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Festive parties not scheduled in homes with UK mortgages

Date: Wed, 21 Dec 2005

The Christmas season may not be so festive for those households struggling to repay their UK mortgages.

New research from LloydsTSB suggests that many households are deciding against holding parties this year because of increasing costs.

The bank estimates that around 25 per cent of people are planning to ban parties from their own homes because hosting the event could prove too expensive. A further 14.7 per cent are concerned that the party could mean damage to their homes.

"It's little wonder Jingle Bells are turning to alarm bells when it come to hosting a party at home," said Phil Loney, managing director, Lloyds TSB Insurance.

He added: "With the risk of damage to carpets, curtains and furniture increasing when spirits are raised, more and more of us are unwilling to add the cost of domestic repairs to the final bill for Christmas celebrations."


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