National Homebuyers: 'Financial Difficulties - 'Brown slammed over Northern Rock'

Gordon Brown has been slammed for his handling of the Northern Rock crisis and potentially causing financial difficulties for many homeowners.

[ClickPress, Mon Feb 18 2008] The bank has been officially classified as a Public Financial Corporation (PFC), adding £70 billion to the national debt.

That accounts to more than five per cent of GDP and translates to £300,000 for each family in the UK.

Conservative shadow chancellor George Osborne has accused Mr Brown of putting many people in financial difficulties and effectively giving them a second mortgage.

"Gordon Brown has staked his reputation for competence on meeting his own fiscal rules. Today those rules have been blown to pieces as a result of his economic incompetence," said Mr Osborne.

"Gordon Brown has effectively saddled every taxpayer with a second mortgage as a result of his mishandling of the Northern Rock crisis," he continued.

Fast property sale expert Julian King says, "Homeowners affected by this part of the credit crisis are encouraged to seek a fast property sale.

"Homeowners who wish to release equity but remain in their homes are thrown a lifeline by one of the mortgage rescue schemes available such as Sell and Rent Back".

Mr King adds that homeowners looking to sell property quickly or enter a Sale and Rent Back agreement must use a reputable natioanl company, rather than a company that simply "has a nice website".

Mr King is a director of National Homebuyers, the UK's leading quick property sale firm. He is also a founder of APBA, the Approved Property Buyers Association, a lobby group which is calling for the regulation of the Quick Property Sale and Sale and Rent Back industries.

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