Alliance & Leicester: Mortgages are squeezing families
www.moneynews.co.uk > Mortgages > Alliance & Leicester: Mortgages are squeezing families
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Alliance & Leicester: Mortgages are squeezing families
Mon 22nd Oct 2007
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Britons are scaling back on the amount they save, as well as cutting down on credit card spending and borrowing, the most recent Borrowing Monitor indicates.
The findings reveal that people with mortgages are feeling "less comfortable" with borrowing money and are cutting back accordingly.
Sean Murphy, director of strategic planning at Alliance & Leicester, commented: "Families are cutting back on their borrowing and their saving to help ensure they can afford higher mortgage and other household bills.
"Even though average interest rates on unsecured borrowings have actually fallen over the last 12 months, that has not been enough to tempt mortgage borrowers to take on more unsecured debt."
Last month, Alliance & Leicester adjusted the rates on its two-year Base Rate Tracker and FeeSaver Tracker mortgages.
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Related News : Alliance & Leicester |
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