Seek help to avoid repossession says Housing Minister
Housing Minister Ian Austin urged people struggling to pay their mortgages to seek support as soon as possible.
Mr Austin welcomed the news today that the rate of repossessions in the second quarter of the year fell 32 per cent compared to the same period in 2008.
He said the figures show people that the Government is “on their side” and providing the right help to keep people in their homes.
Ian Austin said:
“Families need to know that help is available from the moment they have difficulty paying their mortgage and at each stage of the process. More than 200,000 families each month are getting help with their mortgage payments or getting free Government-funded advice from their local council.
“And we’ve helped thousands more with other measures, such as stronger protection for homeowners and getting lenders to be more tolerant and helpful, to providing free court advice, or targeted schemes to help families in the toughest situations.
Ian Austin said that under the new rules lenders can only repossess homes as a last resort. By seeking help early people struggling to make mortgage payments can avoid repossession, he said.
The figures released by the Ministry of Justice today show that lenders made 26,215 claims for mortgage possession in the second quarter of this year – 14 per cent higher than the first quarter.
Topics: Britain, Economy, Governance, mortgage, recession, repossession, society, UK
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