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Bank claims: People in mortgage arrears 'should speak to lender'

People struggling to cope with housing loan charges ought to speak to the company that provided them with the funds as soon as possible.

This is according to Council of Mortgage Lenders communications manager Bernard Clarke, who claimed if this is done at the "earliest opportunity", the firm will be able to provide the struggling homeowner with the widest number of options possible to help them resolve their crisis.

Credit card charges and bank claims could be affecting people of all demographics, with the specialist noting there is "pressure on household budgets across the board".

"Problems with meeting financial commitments are not limited to one particular age group," he added.

However, recent data from the Consumer Credit Counselling Service found that the number of people aged over 60 who are contacting the organisation with problems relating to mortgage arrears has grown by 44 per cent since 2009.

Across all age groups, the average increase has been just three per cent.

John Fieldman
Having worked in the city for 19 years, John's main focus is interest rates and corporate finance.ADNFCR-2776-ID-801388096-ADNFCR

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