Date: Mon, 09 May 2005

A lack of confidence in the UK housing market is highlighting the need for borrowers to ensure they have life insurance cover.

Propertyfinder.com's latest survey revealed that that the number of people who feel house prices will fall over the next year has increased from 48 per cent in March to 64 per cent in April.

The research found that 57 per cent of those who expect the housing market to fall believe potential interest rate rises will force house prices downward.

Recent high-profile job losses at Rover and Marconi are also causing concerns amongst consumers who are increasingly worried about the possibility of leaving debts behind if the worst should happen.

Managing director of propertyfinder.com, Jim Buckle said: "With consumer confidence already shaky and higher taxes likely to take another bite out of consumer incomes, growing job insecurity is the last straw."

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