Paymex News

CML mortgage arrears figures shock:
Thu 18th Dec 08 - 10:08

On 18th December, the Council of mortgage lenders issued a press release which stated that they anticipate that by the end of 2009 some 500,000 households will be 3 months or more in arrears with their mortgage and that there will be 75,000 mortgage repossessions.


Based on information from our current clients, we know that the average customer with mortgage arrears also has on average, over £40,000 in unsecured debts. During 2009, we will be developing new products which will assist both borrowers and their lenders deal with mortgage arrears.