One in arrears means 80 with no mortgage

Story link: One in arrears means 80 with no mortgage

That is an extemeley high figure and you can only feel for the people who are trying to get on the property ladder at a point which looks like it could be a perfect entry.
On the other hand the amount of arrears has had a huge increase and is likely to increase much more throughout 2009, banks need to cover their backs somehow.

One in arrears means 80 with no mortgage

The stark warning comes as experts predicted that Britain’s mounting toxic debt will make it harder to get a mortgage in 2009.
It follows the Government’s announcement last month that it would pay some borrowers’ mortgage interest payments if they lost their job under its proposed Home owners Mortgage Support Scheme.