Brits appear unconcerned by repossession threat

Wed, 25 Jan 2012

Few people in Britain appear concerned by the threat of home repossession, judging by the findings of new research from MoneySupermarket.

According to the study, just four per cent of those questioned admitted their top financial fear in 2012 is not being able to meet their mortgage or rent repayment.

This was markedly less than the 43 per cent who cited the rising cost of utility bills as their main monetary worry and also far beneath the 34 per cent reported for the escalating price of food and the 33 per cent recorded for petrol cost hikes.

The findings suggest Britons may be more concerned with their immediate expenditure than they are with the future threat of repossession should they fail to keep up with their housing payments.

Clare Francis, consumer finance expert at the price comparison website - which was first set up as an offline business in 1993 - stated: "It is worrying that so many people would struggle should their financial situation change with a quarter of households saying they only had enough spare cash to last a week."

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