Advice service is "sticking plaster" solution says National Homebuyers
People will continue to face financial difficulties despite the government launching a free financial advice service.
[UKPRwire, Wed Mar 12 2008] That is according to Hargreaves Lansdowne's head of research, who appeared on BBC Radio Five Live's 'Wake Up To Money' programme.
Mark Dampier described the advice service as nothing more than a "sticking plaster" and a "smokescreen".
It means that many more people will face financial difficulties in the future while money is spent on something which may not help at all.
"I think the government is trying to put a sticking plaster over the real problem which is that there's a desperate need for financial education, so to me it's a bit of a smokescreen, I'm afraid," said Mr Dampier.
"It's putting the cart before the horse you see, because people don't actually know the right questions to ask in the first place, and of course this government has put an awful lot of onus on people now," he added.
Fast cash for homes property expert Julian King adds, "The very basics of the situation is: many more people will be facing repossessions this year for whatever reason.
"The best advice anyone is financial difficulty can receive is - act now.
"Options exist to assist the homeowner in their time of trouble. Equity release, sell and rent back and a quick property sale are some of the solutions we use to assist homeowners in real schtuck".
National Homebuyers are the UK leaders in Sell and Rent Back solutions where the homeowner can sell their property for up to market value and rent back their home on a secure Assured Short-hold Tenancy agreement.