Bad neighbours cause financial problems

Falling into mortgage arrears isn't the only financial problem homeowners face, as new stats show that vandalism is costing them £2.5bn.

The survey from Lloyds TSB was looking for the most and least neighbourly places to live in Britain. It took into account factors such as friendliness, consideration, vigilance, tidiness and tolerance.

The figures also show that each incident of a neighbour damaging a householder’s property cost over £300 (£312).

Stockport came bottom of the rankings and was found to have the least considerate neighbours compared to other areas of the UK.

The research discovered that being a member of a Neighbourhood Watch scheme was more likely to lead to a harmonious community.

Atlantic Financial Management's director, Kevin Still, says: "Rising unemployment and the breakdown of social values in the UK in some neighbourhoods can adversely impact us all financially, especially in terms of rising insurance premiums. People already with debt problems are being asked to pay for the irresponsibility of others."

Debt problems – next generation

17/03/2011

Parents across the UK currently dealing with debt problems may be seeking debt help regarding their ...

Debt problems - life events

21/02/2011

It appears debt problems could well be made worse by Brits underestimating the cost of life's big ev ...

Brits get frugal over debt problems

11/01/2011

The average Brit is looking to avoid debt problems this year by making cuts to their lifestyles, in ...

Middle aged face debt problems

14/12/2010

People in their middle ages could soon be facing severe debt problems as it appears many of them are ...