With the latest repossession statistics showing a large percentage increase in the number of repossession orders made by the courts in the UK against home buyers (nearly 20,000 in the 3rd quarter) it might be time to think about mortgage protection insurance, especially if your job security is not terribly good.
The good thing about the figures is that they are not the number of repossessions that took place, apparently many orders are suspended so that the home buyer can continue ot live in the home as long as they make the normal repayments and pay something towards the arrears.
I gather that there is more personal debt in the UK than the national debts of the whole of Africa and South America - I find that a very frightening figure (more than £1,000 billion) and wonder if this is going to dent consumer confidence even more.
Thursday, October 27, 2005
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