Millions face mortgage woe according to National Homebuyers
David Cameron has warned that many mortgage holders face serious financial difficulties.
[UKPRwire, Fri Dec 28 2007] The leader of the Conservative party blamed Gordon Brown for the financial difficulties that many Britons find themselves in.
He was speaking ahead of a meeting with the Council of Mortgage Lenders (CML) and pointed out that many families are struggling to get by.
"Today in Brown's Britain, hardworking families are feeling the pinch. We all know the reasons why. After ten years of Gordon Brown, the tax burden is now at the highest level in British history. Council tax bills have more than doubled, and are now set to rise still further," said Mr Cameron.
"Next year, 1.4 million mortgage holders will come to the end of their fixed-rate periods. And because interest rates are higher now than they were two years ago, research suggests that this will add £200 to the average monthly mortgage bill.
"With house repossessions already rising rapidly, this could unfortunately be the final straw for many borrowers across the country," he continued.
Fast property sale expert Julian King adds, "Since August 2005, the base rate of interest has increased from 4.5 per cent to 5.5 per cent, this is bad news for anyone having to cope with financial difficulties
"Many may find themselves fighting to stop repossession. If this is the case, we urge the property owner to act now to stop repossession".
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.
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