22-01-2008
Research highlights missed mortgage payment figures
News by Adfero for Simply Business - independent providers of public liability insurance, business finance, landlord insurance, buy-to-let mortgages & commercial mortgages.
A number of UK homeowners have missed mortgage payments, it has been revealed, although this symptom of the crisis has not yet reached the buy-to-let market.
Data released by MoneyExpert.com, an organisation established in 2003, shows that over the last six months, an estimated 463,000 individuals have missed a deadline for the submission of a mortgage payment.
Moreover, those between the ages of 25 and 34 are believed to be the most prone to finding themselves with missed mortgage payments.
"Missing a mortgage payment doesn't incur an automatic charge like failing to pay your credit card bill," said Sean Gardner, chief executive of MoneyExpert.com.
"But it is a sign of real distress as keeping a roof over your head should be the priority for most of us."
Of the total number of outstanding mortgages - currently 11.8 million - the number of missed payments since July 2007 represents approximately four per cent of the total.
Mr Gardner recommends that anyone with missed mortgage payments should make contact with their lender.
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