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51 per cent increase in Citizens Advice mortgage and secured loan enquiries

Figures released from the Citizens Advice Bureau show a 51 per cent increase in new mortgage and secured loan enquiries and a 10 per cent increase in fuel debts compared to the same period last year.

The figures reveal that CAB has seen a 35 per cent increase on mortgage and secured loan arrears problems over the last 12 months, compared with the previous 12 months, with 77,324 new enquiries since October 2007.

These sharp increase in figures show a breakdown of clients with mortgage and secured debt arrears found that over half are aged between 35 and 49. Just under half were households with dependent children and 1 in 5 were single parents with dependent children. Some 13 per cent were disabled and 10 per cent had a long term health problem.

The CAB also reports a reduction in the number of credit, stores and charge card debts and unsecured personal loan debts, down four per cent on year, although combined this still represents the largest type of debt the CAB sees at 35 per cent of all the debt problems handled.


Woodford points to market low

Invesco Perpetual income guru Neil Woodford believes that the credit crisis is nearing its lowest point and that there a number of opportunities appearing in the market.


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