Britons fear debt under coalition

One in three homeowners fears that they will be consumed by debt within three months if they are made redundant, new figures have revealed.

The figures come from housing specialists Property Portfolio Rescue (PPR) and they reveal that only one in ten homeowners feel safer from debt under the coalition government.

By comparison, almost a quarter worry that they may need debt advice as the country faces up to an age of austerity.

One of the most worrying aspects of PPR's study is that over half of homeowners see low interest rates as being the most important thing that's stopping them needing debt solutions.

However, given that the interest rates are at their lowest ever level, they can only go up, which is likely to cause many further debt misery.

The research also reveals that less than a third (31 per cent) of homeowners have redundancy insurance, meaning many will need debt help if they lose their jobs.

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