The One account reveals mortgage worries

Ramesh Sharma

April 8, 2006

The One account research into working and lifestyle choices indicated a balance between the two has become increasingly difficult to maintain, with 46 per cent of respondents admitting to working unpaid overtime as they have too much work to fit into a ‘normal’ working day. 86 per cent of people questioned said that having to pay for a mortgage meant job security was paramount to fulfilling the mortgage payments, with the research revealing that many people spend half of their monthly wage meeting mortgage payments.

With almost half of people admitting to working unpaid overtime to increase their job security, the report revealed 49 per cent of people don’t spend time on their hobbies. 29 per cent also admitted that their working schedule affected their sleeping patterns.

Commenting on the findings, Debbie Milsom, spokeswoman for The One account, said: “British homeowners are finding the work-life balance increasingly difficult to deal with. People are so busy focusing on job security that they don’t have time to look after themselves or even maintain an active life outside work.

“Maintaining job security is highly important to British homeowners because without it they could not support themselves and their families. Not only this, but many people have debts to pay in addition to their mortgage payments every month.”

Duncan Berry, director of sales, first mortgages at GE Money Home Lending, said: “The results of this research, while being slightly depressing, are not all that surprising. However, consumers should remember that by shopping around for the most competitive deal, they could significantly reduce their monthly mortgage repayments. Most people aspire to own their own home, and research like this isn’t going to put off first-time buyers.”

Sign up to our daily email