Rising costs to hit homeowners say National Homebuyers
Many Britons could be plunged into financial difficulties as the cost of living in the UK continues to rise.
[UKPRwire, Tue Feb 05 2008] That is according to Conservative shadow chief secretary to the Treasury Philip Hammond, who commented following the publication of new figures from Capital Economics.
The firm pointed out that many households could find themselves in financial difficulties as household bills rise.
Mr Hammond warned of difficult times ahead for many people as they struggle with high mortgage payments and other rising costs.
"A hike of nearly £200 on household bills means yet more pain for families who are already feeling the pinch from higher mortgage costs and soaring food prices," he commented.
"Gordon Brown's economic incompetence has left Britain ill prepared to cope with a squeeze like this.
"It is ordinary families who will be left to pick up the pieces," added Mr Hammond.
With the cost of living increasing so rapidly, many homeowners may find themselves struggling to avoid repossession in the months ahead.
Julian King of National Homebuyers says "There is no reason why homeowners should continue to fall into repossession. Options exist to assist the homeowner.
"Homeowners in financial difficulty should consider an immediate and fast property sale or a mortgage rescue service like Sell and Rent Back".
Mr King is a director of National Homebuyers, the UK's leading mortage rescue scheme provider, either arranging a quick property purchase or a Sell and Rent Back agreement.