Financial Difficulties - Brits struggle to cope say National Homebuyers
The average Briton does not look after their money properly and is in danger of falling into financial difficulties.
[UKPRwire, Fri Dec 28 2007] That is according to new research from Abbey, which assessed the average person's ability to deal with mortgages, bank accounts, savings and other areas of their finances.
Abbey chose to rate people between zero and 100, where zero indicates that all finances are in order and 100 means they are in real financial difficulties.
The firm found that the average British woman has a score of 46, while the average male is only slightly better financially with a score of 41.
"The research suggests that the majority of people are in need of a financial workout to get their finances in peak condition for 2008," commented Sue Hayes, director at Abbey.
Many people have been plunged into financial difficulties as a result of rising interest rates and the global credit crunch, which forced many mortgage lenders to increase the rates on some of their deals says quick sale property expert Julian King.
"The increasing cost of owning and selling a home along with the increased restrictions placed on lending criteria means that it will cost more and take more time to sell a property in 2008.
"Homeowners looking for a quick house sale should look outside the traditional 'estate agency' model".
Mr King is a director of National Homebuyers, the UK's leading fast property purchase firm, guaranteeing to make an offer on any property in the UK, regardless of its condition or location for vendors who need a quick sale. The company also offers a Sell and Rent Back mortgage rescue scheme for homeowners who want to release equity in their homes.
Del.icio.us
Digg
Furl
Blinklist
Reddit