The number of homeowners seeking help with mortgage repayments has soared 35% since this time last year, a study suggests.
A survey of more than 300 offices of Citizens Advice across England and Wales found a 35% rise in mortgage queries in January and February compared with 12 months ago. It follows warnings from the Council of Mortgage Lenders (CML) last month, which predicted a rise in repossessions in 2008 owing to the credit squeeze. “It is a worrying trend that our bureaux are reporting a very sharp increase in the number of mortgage arrears problems they are dealing with,” says Teresa Perchard, director of policy for Citizens Advice. “These latest figures paint a worrying picture, suggesting a signifi...
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