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REPOSSESSIONS AT A FIVE-YEAR LOW

REPOSSESSIONS AT A FIVE-YEAR LOW (News (General))

by administrator @, Tuesday, February 19, 2013, 15:51

Mark Prisk
Mark Prisk
Last week the Council for Mortgage Lenders announced that repossessions are at their lowest level since 2007, fewer than their own predictions for the year.

It's clear that our efforts to reduce the record deficit we inherited and to keep interest rates low are having the desired effect.

But we are not complacent. We're determined to ensure that struggling homeowners can find the advice they need so that losing their home continues to be the last resort.

That's why there's a range of support and advice available for people with money worries to take action as early as possible, including the extended £221 million Mortgage Rescue Scheme and £20 million local authority funding for preventing repossessions.

Anyone worried about their finances can find advice on the Government's website - www.gov.uk/repossession/get-advice. Support is also on hand from organisations including Citizens Advice, National Debtline and Shelter.

So my message is clear: if you're worried, seek early help. The sooner you come forward, the more options there are to avoid you losing your home.


www.gov.uk

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