- Tuesday, 3 March 2009Professional services organisation KPMG notes that mortgage fears prompt the majority of Britons to get an IVA.
In its analysis of consumers who applied to get an IVA in the last quarter of 2008, KPMG found that 51 per cent were experiencing mortgage difficulties.
Director of personal insolvency Mark Sands tells Get Reading: "We have identified a trend.
"Consumers with a mortgage now make up 51 per cent of those seeking help, a dramatic increase from the 30 per cent level seen last year."
In all, 10,467 people were able to get an IVA over the last three months of the year.
But the number of Britons who voluntarily entered bankruptcy in the same period grew by 32 per cent over figures from 2007.
Despite the tougher economic times, consumers are still enjoying some traditional treats such as an evening out in a restaurant or bar.
KPMG recently noted that visits to such establishments were up by 5.6 per cent year-on-year in January.
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