Shelter: More homeowners looking for debt help
Shelter: More homeowners looking for debt help
- Thursday, 10 February 2011Shelter has welcomed new statistics showing a fall in repossessions, but warned that a record number of homeowners are seeking
debt help for fear of losing their homes.
According to the charity, the number of people struggling to pay their mortgages has risen by 78 per cent over the past year.
This is despite the figures today released by the Council of Mortgage Lenders, which showed a 24 per cent year-on-year fall in repossessions during 2010.
Campbell Robb, Shelter's chief executive, said: "People across the country are facing a daily battle to manage their finances as they are increasingly squeezed by a vicious combination of rising living costs and wage freezes.
"There are a number of big threats on the horizon," he added, highlighting the danger posed to struggling households by looming interest rate rises and potential increases in unemployment.
Mr Robb called on the government to ensure that mortgage lenders cut their rates to help more people payback their home loans.

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