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Government 'must rescue' homeowners

Government 'must rescue' homeowners

 

There have been calls from housing charity Shelter for more support to be given to struggling homeowners as mortgage costs and energy prices increase.

According to the charity, figures from the Council of Mortgage Lenders (CML) predicting the number of repossessions in the UK may be 20 per cent lower than in reality.

The CML has forecast that 45,000 homes will be repossessed this year.

Shelter chief executive Adam Sampson described the "human misery" of repossession as "devastating".

"The government has made billions of pounds from stamp duty and the lenders billions from mortgages. It's now time to plough some of this money into helping save people from repossession," he said.

Shelter is urging the government to solve the crisis when it meets the CML tomorrow.

Joe Wiggins, the public relations manager for protection at Legal & General, recently suggested that mortgage payment insurance could provide homeowners with peace of mind should they lose their job or fall ill.

Your home may be repossessed if you do not keep up repayments on your mortgage.

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