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PPI Claim News - 6/4/2011

 
Loan charges: More people struggling to pay their mortgage

People struggling to cope with loan charges may be among those people who are currently struggling to pay their mortgage.

National debt charity Consumer Credit Counselling Service (CCCS) has said that budget pressures, such as inflation and wage freezes, may mean many people are unable to pay their mortgages.

Delroy Corinaldi, CCCS External Affairs Director, says: "So many households are just managing to make ends meet, that even a small increase in the cost of their mortgage may push them over the edge.

"As far as possible, families need to think how they could pay such increases and seek help at the earliest opportunity if they feel that they cannot cope."

The charity also revealed that it counselled 90,000 homeowners last year, with the average person having £30,160 in unsecured debt on top of their mortgage.

Research by the CCCS found that the average homeowner will have to spend around £3,700 more this year than they did last on mortgage payments.

Charles Baker

Charles is a reputed financial analyst with almost decades of experience under his belt.
 ADNFCR-2776-ID-800489804-ADNFCR



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