CAB mortgage enquiries rise 35%

| March 18, 2008 | 0 Comments
”CAB

The Citizens’ Advice Bureau (CAB) has reported a sharp rise in the number of people seeking help with mortgage problems.

A recent survey commissioned by the BBC, covering 300 CAB offices, found a 35% rise in mortgage queries in January and February, compared with the same two months of 2007.

Debt problems relating to household bills also rose during January and February, to 215,000.

Credit card debt problems fell by 9% during the same period, however, overdraft issues were up 7% on January and February 2007.

During 2006/07, nearly one-third of the 5.7 million cases dealt with by CAB staff concerned debt, making it the biggest single issue faced by the charity.

Teresa Perchard, CAB director of policy, described the results of the survey as presenting a picture of households struggling to meet their basic living costs, such as utility, telephone and council tax bills.

Adding: “It is a worrying trend that our bureaux are reporting very sharp increases in the number of mortgage arrears problems they are dealing with.”

The CAB is urging people in debt to tell their creditors straight away if they are facing difficulties, CAB staff can also help by putting together payment plans and ensuring clients are receiving the benefits to which they are entitled.


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