News Article Published:
Monday, 02 June 2008
Category:
Insurance
Some 44 per cent homeowners aged under-25 feel trapped in their homes as a result of the credit crunch, according to research by Gocompare.com.
Homeowners that intended to sell up have been forced to reconsider plans, the survey revealed.
But according to the chief executive of Gocompare.com, Hayley Parsons, the squeeze could see an increase in those consumers seeking better deals from insurance marketing.
She noted: "A huge number of UK homeowners are worried about their financial situation and so feel trapped in their homes.
"It's never been more important to save money wherever you can and shopping around for your home and car insurance could save you hundreds of pounds a year in a matter of minutes."
As many as 14 per cent of homeowners now feel that they will not move for another three years and 32 per cent have already cancelled plans to move within the next year.
<< back to latest industry news