Plea over home loans

Mar 18 2008 by Sue Scott, Evening Gazette

A FINANCIAL expert is advising homeowners to review their mortgage as the credit crunch continues to affect the economy.

Jackie Bassett, an independent financial advisor at Homes and Finance in Yarm, has reported a major increase in the number of people contacting her since the start of the year wanting to change their mortgage and review their financial position.

Last week, the Chancellor announced plans in the Budget to consult with mortgage companies over introducing fixed rate long-term mortgages to give those on lower incomes in particular a better handle on their finances. Ms Bassett said: “We’re constantly working with our clients to review their financial positions in the current climate and I would urge other people to look at their mortgages and err on the side of caution.”