Almost half of consumers do not seek mortgage advice

In a speech to the Council of Mortgage Lenders (CML) in London today, Phillips revealed research indicating seven out of eight of those in difficulty thought their problems were serious. He called on all mortgage lenders to encourage consumers in difficulty to get advice early before the problem becomes a disaster for both parties. Of those who did seek advice, 65% went to their mortgage lender, while one in four went to Citizens' Advice Bureau (CAB). Consumer experience of lenders' advice was mixed. Some felt their mortgage lender was unhelpful and inflexible whereas others felt t...