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.

(see http://www.cml.org.uk/cml/publications/marketcommentary/109).

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.

 

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