Brits unable to save, according to National Homebuyers

Many Britons are getting into financial difficulties because they are unable to put money aside due to the rising cost of living.

[ClickPress, Fri Dec 21 2007] According to Baronworth Investment Services (BIS), rising mortgage costs and other day-to-day expenses are causing many people to get into financial difficulties.

It is bad news for homeowners, many of whom will be struggling to stop repossession, and those looking for a quick property sale as fewer people are able to buy their homes.

"I know base rates have just gone down but that doesn't mean to say that mortgage rates are going to go down as well," said Colin Jackson, director of BIS.

"The more we have to spend on day-to-day living, rent and mortgage means that we have less left over at the end of the month for our savings.

"The way things are currently, and they have been for some while, people are finding it very tough to put money aside each month for long-term or even short-term savings. So if things go on like this, over time it will lead to major problems," he continued.

Fast cash for homes property expert Julian King adds, "People who are facing or predicting financial difficulty in the new year should consider a fast property sale in order to get their finances in order.

"We assist thousands of homeowners each year with the quick sale of their property. Our Sell and Rent Back solution also allows the customer to sell their property, using the cash to pay off debts and remain living in their home for as long as they wish".

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 completes at a timescale that suits the vendor, often assisting those facing repossession.

Homeowners were dealt another blow this month when Nationwide revealed that house prices fell by 0.8 per cent between October and November.

Bookmark this release: Del.icio.us - Digg - Furl - Blinklist - Reddit