Payment protection claims could free up the cash many first-time buyers need to move to a new home.According to new research from HSBC, 360,000 people cannot afford to move on from their current home. The bank states that people who bought their property while the market was experiencing high house prices in 2007 are now suffering as the financial crisis has meant many homes have lost their value.Anyone who has not been saving will now find it very difficult to climb the housing ladder as house prices have dropped an average seven per cent since then, stated the firm."Making overpayments on the mortgage is one way that these movers can help build up their finances to take the next step up the property ladder," said Pete Dockar, head of mortgages at the bank.According to the Consumer Credit Counselling Service, since 2001 house price rises have outstripped earnings and moving up the property ladder has had adverse financial implications for younger homeowners.Amir HussainAmir specialises in personal loans, consumer debt and debt management.
Belmont Thornton Ltd. is regulated by the Ministry of Justice in respect of regulated claims management activities; our registration is recorded on the website www.claimsregulation.gov.uk number 18273
Belmont Thornton Ltd. is incorporated in England and Wales, Company number 6621233, whose head office and registered office is at Suite 2, Unit 25, The Coda Centre, Munster Road, London, SW6 6AW. VAT Registration number 945 3375 06.
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