Consumers 'are worrying about debt and mortgage repayments'
Published On 26 March 2008
Nearly half of all adults in the UK worry about their levels of debt and how they would make mortgage payments if they lost their job, a new study has shown.Research from Abbey found that 48 per cent of people in the country are worried about their finances.
What's more, 67 per cent said they were specifically concerned about their home. Concerns include the safety of their posessions and their ability to make mortgage repayments in the future.
Abbey added that it had seen an increase in the number of people opting for its mortgage repayment cover, suggesting that consumers are trying to protect themselves from potential economic downturn.
Lloyd Wilson, Head of Abbey Insurance, commented: "The current climate has seen more people worry about the event of job loss. While you cannot predict the future, you can at least be prepared for it."
Mr Wilson added that home, contents, income protection and life insurance can all provide peace of mind to "ease the worry of everyday life".
He concluded: "We want our customers to feel that should the worst happen they will, at least, have the financial side of things covered."
