Repayments a concern for one fifth
New figures published by the FSA have shown one in five mortgage holders are concerned about meeting their repayments in the next 12 months.
When asked how they would meet these costs, a quarter of respondents said they had no plans. In response, the regulator is to launch a £2m advertising campaign to help consumers make informed financial decisions and find the right mortgage for them. A checklist has also been published on the regulator’s website to help borrowers manage their mortgage repayments. Chris Pond, director of financial capability at the FSA, said: “Economic conditions are getting tougher, putting pressure on family finances. As the UK’s financial watchdog we can help. Our new checklist sets out simple steps that homeowners can take to manage their money and mortgage in difficult times.”
News: Regulation & Government
Mortgage Solutions 4 March 2008
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