RSS FeedsMortgage misery for more families
15/04/2008
New figures out today revealed that yet again there are further signs that UK homeowners are at risk of loosing their homes a report in Staffordshire found. This is as a result of homeowners falling deeper into debt, and as a result are not meeting monthly mortgage repayments and are therefore at risk of their homes being repossessed.
Data from credit agaencies demonstrated that across the Tamworth area somethimg around the region of 8,533 homes fall into the “sub-prime loan exposure” category. As a result of this these people may have a hard time dealing with the debt problem according to the analysis by The Spectator Magazine.
As an attempt to try and relieve thre situation, Tories are calling to try to abolish stamp duty on homes valued up to £250,000 for time buyers. In addition to this spokesman Christopher Pincher for Tamworth Conservatives requested that mortgage lenders should call upon borrowrs approximately three to six months prior to fixed rate mortgage deals ending in order to give some support and financial help to those borroweres that may be effected by big increases in mortgage payments.
"Thousands of families across Tamworth are now exposed to the possibility of losing their home” said Mr Pincher.
"With many households facing soaring bills as their fixed rates come to an end, mortgage lenders should do more to help home owners with the soaring cost of living and help reduce the hardship."