Mortgage first – homeowners warned

Mortgage comes first, owners warned

Thousands of homeowners are to be warned by taxpayer-owned banks to forget renewing their subscription to Sky TV or buying a new BlackBerry and instead focus on paying their mortgage.

More than 30,000 Bradford & Bingley and Northern Rock customers will receive phone calls over the next few months from UK Asset Resolution (UKAR) warning them about the possibility of them losing their homes.

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This might come as a shock to some people who will feel their fancy phone and satelite tv subscription is a life essential.

Whilst this may sound very fair and sensible if you go bankrupt then you can often have these “luxury” items allowed in your permitted expenditure list.

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