G I I T   S o l u t i o n s

                                       Simple  Solutions  for

                                          Complex Problems

Back to Home Page

Industrial & IT Solutions
Contact for Web Application Development

www.Localhaat.com
Free Buy/Sell Site
To sell, Post your item
To buy, View items on sale

Car Pool
Free Car Pooling Site
Save Environment, Avoid Pollution
Save Petrol, Save Tension

Millions Rely On Fictional Mortgage Benefit

Title:

Millions Rely On Fictional Mortgage Benefit

 

Word Count:

257

 

Summary:

Around 3.85 million home owners believe that a non existent state benefit will enable them to keep up with mortgage repayments in the event of losing their income.

Almost one in ten home owners wrongly believe that the government will pay their mortgage if they are unable to do so for reasons such as redundancy or illness, according to new research.

However, the government will not help anyone with mortgage payments for the first nine months of unemployment and after th...

 

 

Keywords:

tml, mortgages, mortgage, remortgage, remortgages

 

 

Article Body:

Around 3.85 million home owners believe that a non existent state benefit will enable them to keep up with mortgage repayments in the event of losing their income.

Almost one in ten home owners wrongly believe that the government will pay their mortgage if they are unable to do so for reasons such as redundancy or illness, according to new research.

However, the government will not help anyone with mortgage payments for the first nine months of unemployment and after that, unemployment assistance is only offered to a select group of people who have mortgages of less than £100,000.

A further seven per cent of those surveyed by Lincoln Financial Group were not sure whether government assistance is available, and were seemingly unaware that the last Conservative government scrapped state aid in 1995.

Ian Noble, head of strategic partnerships at Lincoln Financial Group, said that the figures were a warning that million of Britons are enjoying a false sense of financial security, believing that the government will provide financial assistance if and when required.

"That is not the case unfortunately. The government is not going to pay for your mortgage if you lose your job, and assuming that it will place people in real danger is a large risk as it suggests they have no other mortgage protection plan in place," said Mr. Noble.

Indicative of this perhaps is the news that mortgage repossessions are still continuing to rise dramatically, with repossession orders in England and Wales in the first three months of 2006 witnessing a 57 per cent rise.

© Adfero Ltd

 

 




Legal Notice:
No responsibility is taken for any direct or indirect loss to the users of this site if any, as the same shall be unintentional on the part of the owner.