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Mortgages: Millions 'Struggle With Payments'
homelessskilledworker
Posts: 1,664 Forumite
http://news.sky.com/story/1033099/mortgages-millions-struggle-with-payments
Nearly eight million people in Britain are struggling to keep up with mortgage or rent payments each month, according to the charity Shelter.
A total of 1.4 million have already fallen behind, with almost a million people resorting to high-interest so-called 'pay day' loans to make ends meet.
Nearly eight million people in Britain are struggling to keep up with mortgage or rent payments each month, according to the charity Shelter.
A total of 1.4 million have already fallen behind, with almost a million people resorting to high-interest so-called 'pay day' loans to make ends meet.
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Comments
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Can't find the Shelter raw data for this.
Usually they survey a very small number of people (via YouGov to lend an air of credibility) then carry out a crazy extrapolation knowing that dumb journalists and bloggers will add their own froth and exaggeration too.0 -
Can't find the Shelter raw data for this.
Usually they survey a very small number of people (via YouGov to lend an air of credibility) then carry out a crazy extrapolation knowing that dumb journalists and bloggers will add their own froth and exaggeration too.
Might be worth just linking to the previous shelter threads to save all this bother on a Friday.This is a system account and does not represent a real person. To contact the Forum Team email forumteam@moneysavingexpert.com0 -
Rents? maybe but Mortgage payments for millions are at record historical lows due to the continued 0.5% BoE interest rate
Yes, many folk have less disposable income these days but for the majority, their actual mortagage repayments will have dropped significantly since 2008. I know several people (inc myself) who were paying around 5% who subsequently moved to rates of 3% or less
As such, and in light of the resiliant employment figures I am going to take this headline with a great big dollop of salt.Go round the green binbags. Turn right at the mouldy George Elliot, forward, forward, and turn left....at the dead badger0 -
homelessskilledworker wrote: »A total of 1.4 million have already fallen behind, with almost a million people resorting to high-interest so-called 'pay day' loans to make ends meet.
Mortgages in arrear, table 1: 157K
http://www.cml.org.uk/cml/publications/marketcommentary0 -
I used to cope with much higher mortgage payments - it's the rise in my other bills coupled with a cut in my pay that is a struggle. Glad the mortgage rate is low!0
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I used to cope with much higher mortgage payments - it's the rise in my other bills coupled with a cut in my pay that is a struggle. Glad the mortgage rate is low!
The thing is, should rates rise, what could you cut in order to budget accordingly?:wall:
What we've got here is....... failure to communicate.
Some men you just can't reach.
:wall:0 -
IveSeenTheLight wrote: »The thing is, should rates rise, what could you cut in order to budget accordingly?
More than likely just pluck some more money off the tree at the bottom of the garden.0 -
shortchanged wrote: »More than likely just pluck some more money off the tree at the bottom of the garden.
Lucky you.
Back in the real world, I'm sure there are many things, many people could cut back on or adapt to meet their budget.
Alternatively, you have to look at how you can increase your income.:wall:
What we've got here is....... failure to communicate.
Some men you just can't reach.
:wall:0 -
Well there's always plastic fantastic and payday loans to bail us out.0
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IveSeenTheLight wrote: »Lucky you.
Back in the real world, I'm sure there are many things, many people could cut back on or adapt to meet their budget.
Alternatively, you have to look at how you can increase your income.
Yet more to be sucked out of discretionary consumption when it does occur, for those that can.
Like all these things it just piles up the pressure on those already trimmed to the bone on expenditure. The relief in interest rates, if they have been able to take them up, is being eaten into by energy/food costs."If you act like an illiterate man, your learning will never stop... Being uneducated, you have no fear of the future.".....
"big business is parasitic, like a mosquito, whereas I prefer the lighter touch, like that of a butterfly. "A butterfly can suck honey from the flower without damaging it," "Arunachalam Muruganantham0
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