Is Britain a nation of mortgage slaves?

Britons are now spending a quarter of their take-home pay on mortgage payments, almost double the proportion of their income they absorbed a decade ago, according to new research.

The study, by market research company Mintel, found that higher mortgage costs and the rise in food and fuel prices have forced three in five adults to cancel spending plans.

Are you worried about the rising cost of your mortgage? Or have tax increases and rising prices taken up more of your income? What would you be prepared to sacrifice in order to make ends meet?

Or do you think that only irresponsible borrowers will be hit by the credit crunch? Have too many of us been living beyond our means for too long?

Source: Sunday Telegraph

Edited April 20, 200817 yr by brian91