Britons consolidate debts in January

Ryan Bembridge

January 27, 2016

reduced income

There has been a sharp rise in people looking to manage their debts this January, Kensington Mortgages has said.

The lender told advisers now is a good time to contact clients to discuss financial plans and needs for the year ahead.

At this time of year ONS figures show that more than half (53%) of the UK population feels a financial burden at this time of year.

Steve Griffiths, head of sales and distribution at Kensington, said: “Remortgaging is a hot topic at the moment as speculation continues to rumble on about the date of a potential rate rise. But advisers shouldn’t let the macro-economic debate distract their focus from their clients’ individual circumstances.

“Trends data from search engines gives us an up-to-date barometer of the interests and concerns of the nation, and it is clear that now is a time when many people are looking to reduce their monthly outgoings.

“This presents an opportunity for advisers to work with new and existing clients to address their financial concerns and assess the options available to them while we remain in a low rate environment.”

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