You are here: Home - News -

Young people are debt-ridden, says research

  • 21/05/2002
  • 0
Almost one-third of young people in debt regularly miss their monthly repayments, a factor which c...

Almost one-third of young people in debt regularly miss their monthly repayments, a factor which could have consequences later in life, according to research from Kensington Mortgage Company.

John Maltby, chief executive, said: ‘Young people need to be made aware of the problems too much debt can cause them in the future. It can cause serious issues when they look for a mortgage ‘ the biggest and most important financial commitment they are likely to face.’

The non-conforming lender found 63% of 18 to 30-year-olds in debt blamed their university days, with low introductory rates and cash-back options on credit cards cited as reasons for getting into debt.

Maltby added: ‘The research indicates a need to offer young people the opportunity to cope with their financial affairs before they snowball, so they avoid becoming financially burdened before they begin their careers.’


There are 0 Comment(s)

You may also be interested in

Business Skills

In this section, we offer short ‘how to’ guides on harder to crack areas of business. From social media, to regulation or niche product areas, we cover it all.


Our journalists interview key industry entrepreneurs, strategists and commentators for day-to-day market insight and a strategic view of where the industry is heading. We offer lessons for success and explore the opportunities for your business

Success in Practice

Here, we share case studies fleshing out best practice to help you decide what could work for your business. Take a look at how others approached complex tasks like launching a new mortgage lender, advising on a new product area or deciding to specialise in another. Learn from others mistakes and triumphs.


Each week, we ask top mortgage and property commentators with a unique perspective to examine a key news headline, market move or regulatory or political issue.


Vote in our weekly poll here. It’s your chance to tell us what you think and be heard on the top news stories of the week. Review our archive to find out what your industry really thinks and all our coverage of the results.

Top Comments

Be part of the conversation on Mortgage Solutions. We want to hear from you. We have a tool called Disqus to tell us which stories get the most comments each week. Every Friday, the team picks the most thoughtful or opinionated contributions from our readers to enjoy again. Don’t forget to share your favourite stories from the site on social media to keep the conversation going.

Read previous post:
Paymentshield takes to the road with shows

Paymentshield is hosting a series of 14 roadshows aimed at mortgage brokers and IFAs. Starting on 15...