UK Money News
2nd May 2008
Crunch leaves millions feeling trapped in their homes
Millions of Britons claim they feel trapped in their homes as a result of the credit crunch, a new poll has revealed.
In a study of 1,000 homeowners conducted by Gocompare.com, nearly 25 per cent of respondents said the worsening economic conditions had left them feeling that they will have to stay put in their current property for the foreseeable future.
Furthermore, 16 per cent said that the financial situation had already caused them to abandon plans to move home.
Hayley Parsons, chief executive of Gocompare.com, said: "This research shows just how hard the economic downturn is biting.
"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."
Those worst affected by the financial situation are those in the under-25 age group, with 44 per cent of those surveyed confessing that the crunch had left them feeling trapped.
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