Remortgage needs of homeowners have been complicated by the growing number of homeowners that are finding themselves a part of unemployment.  The latest news on unemployment is not easing the fears of those that had hoped to avoid the ranks of those in need of a job.  Experts expect the job loss numbers to grow and to peak next year.

Today the most recent unemployment numbers were released.  The Office of National Statistics (ONS) has revealed that the unemployment rate rose to 8.4 per cent which is the highest since 1995 and is an increase of 0.3 per cent over the quarter.  The ONS also confirmed that the average rate of pay is now just 1.9 per cent higher than last year which is less than half the rate of inflation.

Employment minister Chris Grayling remarked “The overall level of unemployment is, and will remain, a major concern for the Government.

“The latest figures reflect the current challenging economic climate but also show more women entering the workforce and more students looking to supplement their income through work.

“When you take into account our welfare reforms, the number of jobseeker allowance claimants has actually fallen.

“Despite the exceptionally difficult economic circumstances, finding work for the unemployed will remain top of the Government's agenda.”

Unemployment, a change in jobs, and a reduction in work hours can have an impact on the ability of a homeowner to obtain a remortgage.  When a homeowner has a complicated remortgage situation it can help to seek out the assistance of an expert such as a remortgage broker.  Employment changes do not have to keep a homeowner out of reach of a remortgage that can help them.