Released on = August 20, 2007, 7:14 am

Press Release Author = Charlotte Burrows

Industry = Real Estate

Press Release Summary = Millions of British adults are in debt and unable to keep up
with repayments.


Press Release Body = That is according to new research by debt consultancy firm
Thomas Charles, which highlights rising mortgage payments as one of the key factors.

Around 8.2 million people are said to be in debt, with 2.1 million regularly
struggling to make their payments.

This means that a large number of homeowners could potentially be facing eviction
from their homes if they do not regularly pay their mortgage.

James Falla, director of Thomas Charles, said that there has recently been an
increase in the number of people reportedly in financial difficulty.

\"Over the past year, we have seen a sharp increase in the number of people who have
taken on unsecured debt and are now struggling with repayments. These high levels of
unsecured debt are clearly linked to the rise in interest rates over the last 12
months,\" he said.

Mr Falla also highlighted the fact that there is a \"growing discrepancy between
mortgage payments and salaries\".

National Homebuyers, the UK\'s leading fast property purchase firm, that deals with
the quick sale of properties from homeowners needing a quick sale says repossession
will become part of everyday life.

\"Properties being repossessed will escalate out of control,\" says National
Homebuyers operations manager David Harber.

\"A 30 per cent rise in repossessions as reported by the CML [Council of Mortgage
Lenders] is something every borrower should be truly worried about.

\"With the recent and future predicted rate rises, homeowners don\'t actually have to
do anything to get into debt.

\"And it\'s an extremely easy and fast process for lenders to claim their money back,\"
says Mr Harber.

A recent report by Global Insight revealed that the financial analyst believes the
Bank of England will increase the base rate to six per cent in October, putting
borrowers under even greater pressure.

Web Site = http://www.nationalhomebuyers.co.uk

Contact Details = Sterling House
20 Victoria Way
Burgess Hill
West Sussex
RH15 9NF
0870 979 8118
Fax: 01444 257333
info@nationalhomebuyers.co.uk