Worried about your
mortgage?
Simply consider the
following information:
Key Considerations
- 90 families a day
had their homes repossessed in 2000. The majority due to the financial
problems associated with unemployment.
- One in three people
aged between 25-34 have experienced unemployment for a period in excess
of one month.
- Almost one in five
working age households (3.4 million) have someone who is currently unemployed.
- Today in Britain
there are almost 1,000,000 persons who are registered as unemployed.
- Every day 500 people
in the UK become unemployed. 60% of unemployed men and 45% of unemployed
women will be out of work for six months or more.
- Every adult in
Britain is five times more likely to suffer a serious disability than
die before the age of 60.
- Today in Britain,
2,900 people will start claiming state disability benefits.
- 1,800,000 people
in Britain are already disabled and have been unable to work for 12
months or more.
What
about state help?
You can
no longer rely on the Government. State benefits for a single person
are currently under £60 per week. Could you manage on that?
The typical state benefit for two adults with two children is £96
per week; the maximum is £134 per week. Could you support your
family on this?
Since October 1995 new mortgage borrowers will receive no state help for
the first nine months of unemployment or disability. Existing mortgage
borrowers receive nothing for the first two months, only 50% for the next
four months and then full benefit for mortgages of up to £100,000
provided they qualify for Income Support. The Government themselves estimate
that 70% of mortgage borrowers will not get Income Support due to savings,
income, or a working spouse or partner.
In 1998 alone, the introduction of a new incapacity criteria resulted
in 102,000 claimants being turned down for state benefit. An independent
doctor (not your own) will carry out your assessment and you must be incapable
of doing any work, not just your normal job, to qualify for state benefit.
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