August 14, 2011
UK Homeowners Still In Trouble
The latest figures show that their homeowners in the UK that are still facing difficulty with their mortgage payments. Government Minister for Housing, Grant Shapps has asked that those that find themselves in this position to take immediate action. Mr Shapps recommends that rather than await repossession of their property, homeowners should heed the warning signs and seek assistance. Current data from the Council Of Mortgage Lenders confirms that the number of repossessions remains as yet unchanged and the number of properties repossessed in Q2 of last year was only marginally less than in Q1.
Shapp confirmed that assistance was available for those struggling and they should not be embarrassed to seek assistance; repossession should always be the last resort.
Shapp said “The quicker that you act, the more options you have to stay in your home.” He also confirmed that the government has invested over £200 million in the Mortgage Rescue Scheme over the next two years.
