Help for homeowners
A new national campaign has been launched to highlight the help and advice available to homeowners potentially facing repossession.
The government is investing £130m in free face-to-face debt advice to help people stay in their homes, with a dedicated website and helpline in operation. Over 300,000 have already benefitted from this extra support.
Advice is also available in the courts themselves, with desks offering free, on-the-day legal advice and representation for those threatened with repossession. Even on the day of a hearing, around four in five repossessions can still be stopped if the households attend court and access free advice.
The government has also launched three financial support schemes, providing over 200,000 families help with their mortgage payments:
The Homeowners Mortgage Support (HMS) scheme is aimed to help those who have a temporary, unexpected drop in income; The Support for Mortgage Interest scheme helps those who have lost their jobs or receiving means tested benefits meet mortgage interest payments; the Mortgage Rescue Scheme is a £285m package of measures designed to prevent the most vulnerable families losing their homes.
Repossessions fell by 10% in the second quarter of this year, and the number of claims leading to a reposession order fell by 35% here in London.
The government is taking decisive action to ensure that homeowners don’t experience the trauma of repossession. During these difficult times, with finances under pressure, it is crucial that people are aware of all the support available – in most cases where people seek help they are able to stay in their homes.
Concerned homeowners can to go to www.direct.gov.uk/mortgagehelp, or contact the National Debtline on 0808 808 4000 for impartial advice.
