Many parents 'worried about mortgage repayments'

Date:Friday 17th July 2009
Author: Max Freedman

A considerable number of parents in the UK are concerned over their ability to meet mortgage repayments.

This is according to new research from Post Office Insurance, which suggested that 64 per cent of parents polled were worried about meeting monthly bills including home loans.

Such concerns are said to be having an impact on the wellbeing of consumers, with 48 per cent of respondents reporting they are experiencing physical signs of stress as a result of the recession.

Meanwhile, the same percentage said they were eating badly due to financial concerns, while 22 per cent were smoking more than they were six months ago.

Duncan Caesar-Gordon, head of protection products at the Post Office, commented: "Understandably, the recession has got everyone keeping an eye on their finances, but unfortunately the downturn has caused stress for millions."

He added that people with money worries should seek advice from their banks or Citizens Advice.

Earlier this month, the Financial Services Consumers Panel suggested that nearly half of people who were struggling with their mortgages had not sought advice.