Mortgage Next is encouraging brokers to back the Financial Services Authority’s campaign to increase consumer awareness about the range of financial options available to them.
The network says that with the FSA finding that one in five borrowers are concerned about meeting there mortgage payments, now was the time for brokers to do their bit.
Gemma Harle, managing director at Mortgage Next, says: “2008 is going to be a turbulent year for borrowers, with 1.4 million short-term fixed rate deals coming to an end and borrowers clearly feeling unsure about how they are going to meet higher mortgage payments.
“Brokers should therefore consider how they can best keep their clients informed about the range of options available to them, which should not only include mortgage products but also additional services such as debt management support.”
Mortgage Next has recently enhanced its range of alternative debt solutions designed for borrowers who may have overstretched themselves financially and are not able to remortgage in the normal way.