Government seeks to advise struggling homeowners

The British government yesterday launched an information campaign to urge struggling homeowners to ‘get help’ and ‘take control’ of their finances.

Television adverts will raise awareness of the campaign with the message that ‘even if you are behind on yuor mortgage repayments, it’s never too late to take control’.

According to the Council of Mortgage Lenders the information campaign, which seeks to help borrowers stay in their homes by taking control of their payment problems, reinforces key messages from lenders to mortgage customers:

* Don’t ignore the problem.
* Get help by talking to your lender.
* It’s never too early to contact your lender to talk about your worries.

More than 300,000 people have received Government-backed help and advice with their mortgage payments since April 2008, according to Housing Minister John Healey.

“When homeowners are under pressure and feel their finances are spiralling out of control, I am determined that they have access to practical and impartial advice so they can sort out their situation.

“The action we’ve taken, from free debt advice and help with mortgage payments to on-the-day legal advice in court, means we’ve seen a drop in the numbers of repossessions.

“But the pressure on people’s mortgage payments and risk to their homes remains.

“The message of today’s campaign is clear: it’s your home – let’s keep it that way. Struggling homeowners must feel confident they can get help – from Government, debt advisers, or their lenders – to save their home.”

Concerned homeowners will be directed to www.direct.gov.uk/mortgagehelp and the National Debtline 0808 808 4000.

Subscribe to The Inside Edge – UK Property News and Advice by Email