What the papers say - 4th February 2009

What the papers say - 4th February 2009

There was a warning in today’s Daily Mirror that thousands of homeowners risk losing their home if they miss payments on their credit cards or personal loans. Reportedly, 97,000 homebuyers had ‘charging orders’- where the person you pay money to secures the debt against your property-made against them last year. At the moment, banks and other lenders are now applying to the courts for “charging orders’ on 500 homes per week. One of the major issues that money pages are focused on at the moment is the importance of making overpayments and today’s Daily Mail noted that with interest rates expected to fall even further this week, borrowers need to make this a priority. If you keep your repayments at the same level they were before the savage rate cuts, you’d be making substantial overpayments without busting your budget.

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