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Financial difficulties - Brits 'can't cope for much longer'
25/03/2008 17:52:34

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  Financial Difficulty
Financial difficulty - Building societies report slump in addition to banking woes
Financial difficulty - Mortgage lending drops two thirds
Financial difficulty - Homeowners paying 62% more than renters

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More price falls may lead to fast property sale surgeAlmost a third of Brits admit the state of their finances is so troubling that they "can't cope for much longer".

A survey conducted by price comparison site moneysupermarket.com found that 30 per cent of Brits are "really worried" about their finances, while the majority of respondents - 53.6 per cent - said they were worried "to a certain extent".

Just 16 per cent of those polled say they have "no financial worries" at all.

Financial Difficulty | Sell and Rent Back your home

Couple this with the credit crunch and the scarcity of competitive mortgage deals, and all the signs point to an increase in the number of repossessions.

"Just 16 per cent of Brits said they had no financial worries, indicating people from all walks of life and income levels are feeling the pinch from rising bills and taxes," commented Tim Moss, head of loans and debt at moneysupermarket.com.

According to the website, UK consumers currently owe more than 1.3 trillion on loans, credit cards and overdrafts alone - and with this figure rising, the ability of borrowers to cope appears to be diminishing.ADNFCR-1046-ID-18521808-ADNFCR

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