UK Money News
15th May 2008
More homeowners struggling with repayments
More and more homeowners are struggling to make repayments on their mortgages, new figures suggest.
According to debt charity National Debtline, the number of people contacting its members of staff for advice over mortgage arrears has increased by 35 per cent over recent months.
In response, Joanna Elson, chief executive of the Money Advice Trust, which runs National Debtline, has called for the government to do more to assist struggling homeowners.
She said: "It is imperative during these difficult times that the government, the banking industry and the advice sector work in partnership together to minimise the number of homeowners getting into serious difficulty and keep people in their own homes wherever possible."
Ms Elson is meeting with Yvette Cooper, chief secretary to the Treasury, Kitty Usher, economic secretary to the Treasury, and housing minister Caroline Flint today to debate ways to ameliorate matters.
The Council of Mortgage Lenders has predicted that the number of repossessions could hit 45,000 this year, compared with a figure of 27,100 for 2007.
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