Millions of mortgage borrowers 'unhappy with lenders'

27th May 2007

A full 2.2 million UK mortgage borrowers are unhappy with the service they receive for their lenders and this figure is on the increase nationwide, according to a new report.

With debt management problems facing consumers across the country, figures from checkmyfile suggest that the number of people unhappy with the service from their mortgage lender has increased by around 20 per cent over the course of the last year.

Furthermore, experts at the company behind the latest study claim that the level of dissatisfaction among mortgage borrowers is likely to increase still further given the current environment of rising interest rates.

Barry Stamp, joint managing director of checkmyfile, said: "As interest rates and the cost of living start to bite and as we see the gradual upward trend in repossessions gaining momentum, more mortgage customers will come into contact with their lender.

"Our survey results show that some will find their mortgage lender far less understanding than may be expected."

Debt solution problems have been heightened for many mortgage borrowers in the UK this month in the wake of the Bank of England's decision to raise the base rate of interest by a quarter-point.

Links to related ClearDebt articles:

Debt Help - Reduce Credit Card Debt
ClearDebt launches IVA Protect – Payment Protection Insurance
ClearDebt Payment Protection - The Genuinely Ethical Approach.
Media Coverage of IVA Fees
Contact us for free debt advice & IVA advice
Do you believe in life after debt?
ClearDebt Media
Personal insolvency in Scotland
The ClearDebt privacy policy
ClearDebt's Terms and Conditions

ClearDebt IVA Help Online Application Form Apply Now

ClearDebt is the only IVA company to offer full online IVA applications
Five simple sections to complete a full IVA application
No time consuming filling debt forms by hand
Login when it suits you and complete at your own pace
Personal, private, confidential and secure
You stay in control

IVA process 'set to be streamlined'

(1 Jun 07) Providers of Individual Voluntary Arrangements (IVAs) and banking group representatives are convinced that over the coming ... more >>

British holidaymakers 'head for the red'

(1 Jun 07) Relaxed attitudes towards spending habits have seen millions of British consumers put themselves into debt to ... more >>

Mortgage deal debt warning issued

(1 Jun 07) British consumers have been warned that they could face serious debt management problems if they fail ... more >>

Brits' secret spending 'worth £6.5bn a year'

(31 May 07) The amounts of money spent by British consumers on purchases they do not inform their families ... more >>

IVA FAQs

Tired of debt jargon? Search our glossary of debt terms:

ClearDebt Analyser

The ClearDebt Analyser is a unique free tool which shows you your best way out of debt - whether an IVA, debt management, debt consolidation or bankruptcy. Immediate results on screen help you say goodbye to debt worries for good!

Debt Management Comparison

The Debt Management comparison tool compares the likely impact of an IVA or a debt management plan on your debt and your pocket. Once you have input your real figures you’ll get an instant comparison for free. You might be surprised by the result!