A new £10 million package of measures to support property owners who may be facing difficulties with their mortgage has been announced by Chancellor of the Exchequer, Alistair Darling and Housing Minister Caroline Flint.
This package includes measures to ensure that financial advice and support is available for borrowers who may need it and includes an additional £9 million extra funding for face-to-face debt advice provided by third sector partners including Citizens Advice Bureau.
The ministers say the announcement will also ensure:
• expanded access to free legal representation at county courts throughout England for households at risk of repossession;
• strengthened National Housing Advice Service to provide a new comprehensive debt advice service;
• more specialist training for Citizen Advice Bureau staff and local authorities on debt advice to help families get their finances back on track.
This adds to the services already in place, such as face to face debt and financial advice, a national debt helpline, homelessness prevention work by every council, legal aid, and financial support for low income households who may face short-term difficulties in repaying their mortgage.
Treasury and housing ministers are to meet consumer and debt advice groups to discuss what more can be done to help people who are experiencing difficulties with their debt repayments, including what further financial support the industry could provide.
The Council of Mortgage Lenders has welcomed the increased resources announced by the Government.
