Many homeowners `find it harder to repay mortgage debt`

Many homeowners say their mortgage payments are less affordable than a year ago, according to recent research by Barclays.

Of these, 36% say it`s because their salary is lower, while 29% cite higher outgoings as a cause of their problem.

28% of homeowners describe themselves as `stretched`, but say they have enough disposable income to cope with an increase in mortgage rates.

13% of homeowners say they can easily afford their mortgage payments and are not worried about rate rises, while 39% say they are comfortable and could afford some increase in their payments.

An expert at debt management company Gregory Pennington said: "Although the majority of homeowners do feel able to cope with their mortgage payments, there are a lot of people out there who are struggling, and others who may do so once interest rates rise. It`s important that they get help as soon as they can.

"A debt adviser could help struggling homeowners to find a debt solution that makes their debts affordable again. The sooner they seek help, the easier it`s likely to be in the long run."



Gregory Pennington offer debt advice and debt management plans, as well as a range of other debt solutions. If you are worried about debt, contact one of our expert debt advisers now.