Citizens Advice has said that while the majority of people approaching staff at its bureaux for debt advice are concerned about personal loan or credit card debt, mortgage arrears are becoming more of a financial headache for British homeowners.
And the moves to highlight the plight of the homeowners around the country come in the wake of new consumer price inflation figures, which hit 3.1 per cent and increase the likelihood of a rise in the cost of borrowing next month.
National money advice officer for the charitable group Lisa Colclough told the BBC: “We are seeing a worrying increase in people coming to us with mortgage arrears.”
She went on to advise indebted consumers: “If you are having multiple debt situations, come along to your local CAB (Citizens Advice bureaux) or contact a helpline such as the National Debtline who can put you on the right track.”
The cost of borrowing is now widely expected to increase in May and this would mark the fourth such increase since August of last year.