The economy depends on many factors to be able to remain stable and to ensure public confidence. Much of these factors rely on a delicate balance and it is far more complicated than can be offered with a simple explanation.
One of the factors that can have a big impact of the economy and consumer confidence is the rate of unemployment.
It has recently been announced by the Office for National Statistics that the number of unemployed in the UK has increased in the last three months to September to 4.1%.
In the two months previous, the unemployment rate had remained steady at 4%, the lowest level since the mid 1970’s. The figures were expected to remain unchanged however the amount of unemployed rose by 21,000 taking unemployment to 1.38 million. At the same time employment rose by 23,000 taking the amount of people in work to 32.41 million.
Unemployment levels have a big impact on families and their ability to repay a mortgage and if your circumstances should change then seeking specialist advice from a qualified Mortgage Adviser is advisable.
A Mortgage Adviser will be able to advise and assist with remortgaging to bring your monthly repayments down, in the hope of coping should household income drop at all.
Mortgage Advisers can also assist with assisting with overpayment advice on your mortgage should you find yourself with more disposable income and you’d like to clear your mortgage sooner.
Find out how a Mortgage Adviser can assist you today and work to help you in any situation with your home repayments. You can call Online Mortgage Calculators on 03333 44 85 11 or email email@example.com