Mortgages 'one of the most openly discussed financial issues'

Mortgages are one of the most openly discussed financial issues in the UK, according to new research.

The study by Saga found that people under-50 who regularly talk about money matters openly are more likely to discuss their type of home loan or mortgage provider than how much they earn.

It was also found that while 21 per cent of under-50s are happy to comment on their finances to friends, just 14 per cent of over-50s also do.

Andrew Goodsell, chief executive of the Saga Group, said: "Talking about your finances to your peers can be a useful exercise, however taking financial advice from friends, colleagues, and even family, whilst with best intentions, is often ill advised.

"There is no substitute for professional advice as the recommendations given need to be as individual as we, and our finances are."

David Elms, the chief executive of IFA Promotions, recently stated that the need for mortgage advice in the UK could be set to rise due to the recent difficulties in the market.

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