BBC NEWS Americas Africa Europe Middle East South Asia Asia Pacific
BBCi NEWS   SPORT   WEATHER   WORLD SERVICE   A-Z INDEX     

BBC News World Edition
 You are in: Business  
News Front Page
Africa
Americas
Asia-Pacific
Europe
Middle East
South Asia
UK
Business
E-Commerce
Economy
Market Data
Entertainment
Science/Nature
Technology
Health
-------------
Talking Point
-------------
Country Profiles
In Depth
-------------
Programmes
-------------
BBC Sport
BBC Weather
SERVICES
-------------
EDITIONS
Monday, 2 September, 2002, 17:16 GMT 18:16 UK
Debt 'more affordable'
Soaring house prices, growing incomes and low interest rates mean debt is more affordable according to a new report.

In fact, the authors of the report dismiss claims that debt loevels for UK consumers are getting out of hand.

The report from the Centre for Economics and Business Research, commissioned by internet bank Egg, suggests the cost of servicing debt is well below the 'danger' levels seen in the early 1990's.

Asset rich

Today debt repayments swallow-up on average only 7% of income, compared to over 11% in 1990.

In addition, the report claims rising house prices mean homeowners are increasingly asset rich, therefore more able to cope with debt.

Since 1988 debt has increased on average by 112% but house prices have gone up by 141%.

See also:

27 Aug 02 | Business
01 Aug 02 | Business
16 Jul 02 | Business
Internet links:


The BBC is not responsible for the content of external internet sites

Links to more Business stories are at the foot of the page.


E-mail this story to a friend

Links to more Business stories

© BBC ^^ Back to top

News Front Page | Africa | Americas | Asia-Pacific | Europe | Middle East |
South Asia | UK | Business | Entertainment | Science/Nature |
Technology | Health | Talking Point | Country Profiles | In Depth |
Programmes