Pirate FM News

Mortgage Money Worries

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Published by the Pirate FM News Team at 6:16am 4th January 2013.

Figures seen by Pirate FM reveal the number of Cornish families struggling to keep up with the rent or mortgage.

Shelter says one in five in the south-west is finding it tough.

The homeless charity says the number across the UK is almost 7.8 million, which is up almost a half on this time last year.

It warns one million people have turned to pay day loans.

This Mevagissey dad is worried: "There's no way of getting out of this hole that we're in now. Four kids and a wife, it's just been hard and it's going to get even harder this year. I work for nothing where before I worked for something but now I work for nothing because it's all coming in one hand and out the other. It's just diabolical really.

"It's keeping up with the bills. The prices haven't got down but the worth of money's gone down as well so what we were paying maybe fifty quid for before, we're paying maybe sixty, seventy pounds for now. It's just shocking."

Chief Executive of Shelter, Campbell Robb, said: "It's shocking to think that so many families will be starting the New Year with a huge weight hanging over them, trapped in a daily struggle to keep their home.

"Payday loans may seem like a quick fix, but the huge interest charges mean things can quickly spiral out of control. It's vital that anyone who's having difficulty paying their rent or mortgage gets advice now.

"Don't wait until things reach breaking point later in the year - it could leave your family's home at risk."

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