This story was posted on : 03/07/2008 11:47:31

The Bank of England has today (July 3rd, 2008)  said that the situation regarding availability of mortgages is expect to get wrose between July and September 2008.

In addition to this, unsecured borrowing is expected to fall - in other words it will also be harder to obtain credit cards, extend credit limits or overdrafts.

As predicted by DCM and many others in the debt sector, the BoE also expects to see a rise mortgage arrears and defaults in the near future too. None of this is good news at a time when people are struggling to keep up with fuel and energy prices.

If you worried about your debt situation and are struggling to cope at present, perhaps now is the ideal time to discuss your options whilst there are perhaps more to choose from.

 

Full story: http://newsvote.bbc.co.uk/1/hi/business/7487078.stm