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Loan charges: Seven in ten worried about mortgage rates

A large number of people appear to be concerned about loan charges, as seven in ten mortgage customers are worried about mortgage rates.

According to research by Which?, a further 14 per cent of consumers are struggling with their repayments, yet only 36 per cent sought out help from their lender.

Richard Lloyd, executive director of Which?, said: "With ongoing uncertainty about the economy, it's not surprising that many people are worried about their household finances. For some it would only take a small increase in mortgage rates to send them over the edge.

"If you're struggling with mortgage repayments then your first port of call should be your lender."

He added that it is not in anyone's interest for homeowners to default on their mortgages.
Mr Lloyd also noted that it is important lenders do as much as they can to help customers who are struggling with repayments.

Jennifer Haines

Jennifer's speciality knowledge is credit card changes and balance transfers.

 ADNFCR-2776-ID-800695714-ADNFCR



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