Subscribe to our Construction Newsfeed
Uk Construction Directory
Search our 158,289 companies....

Construction News

14/10/2008

More Seeking Help With Mortgage And Fuel Arrears Says Citizens Advice

New figures released by national charity Citizens Advice reveal that more people are seeking advice on how to manage mortgage and secured loan arrears and fuel debts.

Getting help, says the charity, can make a huge difference in coming to a workable agreement with your lender or fuel company to manage your arrears, but added that it's vital that lenders show forbearance, treat people in difficulty fairly and do everything they should to help people stay in their home or manage arrears.

The figures reveal that Citizens Advice Bureau in England and Wales saw 35% more mortgage and secured loan arrears problems over the last 12 months, compared with the previous 12 months, with 77,324 new enquiries since October 2007. The most recent figures for July to September 2008 show a 51% increase in new mortgage and secured loan enquiries and a 10% increase in fuel debts compared to the same period last year.
-- Advertisement --
hss



However, the charity welcomed a reduction in the number of credit, store and charge card debts, and unsecured personal loan debts being seen by bureau, down 4% year on year, although combined this still represents the largest type of debt the Citizens Advice Service sees at 35% of all the debt problems handled by bureau. Mortgage and secured loan arrears account for 5% and fuel debt 4% of the total debt problems bureau see.

Citizens Advice Chief Executive, David Harker said: "While we are pleased to see the number of consumer credit problems going down, the increase in the number of enquiries about basic essentials is worrying and these figures show how the current economic situation is hitting vulnerable and low income households the hardest.

"To prevent this situation worsening, it is vital that mortgage lenders and fuel companies do everything in their power to help people in arrears to come to a workable solution over repayment arrangements, rather than piling on extra charges. All creditors should treat borrowers in arrears fairly and sympathetically, negotiate with borrowers in trouble and only use court action for mortgage arrears as a last resort.

"Anyone who is worried about debt should seek advice straight away. Get help from a CAB, or other free independent advice agency, who can help you work out payment options, check you are receiving all the benefits you are entitled to and help you claim any money that could off-set your costs. Up to £9.9 billion means tested benefits went unclaimed last year and a free, confidential benefits check could ensure that you aren’t missing out on money that is rightfully yours."

(CD/JM)

Latest Construction News

30/01/2025
Work has officially commenced on a new primary school in Stafford, set to open its doors to students for the 2025/26 academic year. Burleyfields Primary School, located on Martin Drive, will be part of the Creative Learning Partnership Trust, helping to meet the growing demand for school places in
30/01/2025
A major new design, technology, and science block is under construction at Wellingborough School, marking a significant transformation for the over 400-year-old institution. Leading multidisciplinary consultancy Pick Everard is overseeing the project, providing architectural and civil engineering s
30/01/2025
Kier has been reappointed to two major frameworks aimed at delivering critical healthcare, education, and public sector projects across Wales. The company has secured positions on multiple lots of the 'NHS Building for Wales 2' framework, which is dedicated to large-scale healthcare projects, and t
30/01/2025
Story Homes has submitted a full planning application for a new residential development in the village of Swarthmoor, which will provide 155 high-quality homes. The planning application, presented to Westmorland & Furness Council, includes the creation of 54 affordable homes aimed at eligible local
30/01/2025
Suffolk-based construction firm SEH French has won a top national award for its work on extending a GP surgery in Ely. The Ipswich company was awarded Best Non-Residential Extension, Alteration, or Conversion at the Local Authority Building Control (LABC) Grand Finals for its impressive transformat
30/01/2025
Irish construction company Sisk has been appointed to deliver a cutting-edge Children's Cancer Centre (CCC) at Great Ormond Street Hospital for Children (GOSH) in central London. The landmark project is being supported by Great Ormond Street Hospital Charity (GOSH Charity) as part of its 'Build it.
30/01/2025
A Grade II Listed landmark in Chorlton has been fully restored, more than 130 years after its original construction. The Lych Gate, which dates back to the 19th century, was officially reopened in a ceremony attended by local council members and community leaders. The historic structure, originally
30/01/2025
Plans to improve walking and cycling access around Elland and West Vale have taken a significant step forward with Esh Construction appointed to finalise the detailed designs for the Elland Access Package in collaboration with Calderdale Council. Approved by planners in November 2024, the designs f
30/01/2025
Construction work is commence on an extra care housing scheme that will make a hugely-positive difference to life in a Leeds community. Leeds City Council's Middlecross development in Armley will be home to 65 high-quality, energy efficient and affordable apartments providing independent living opp
30/01/2025
Plans to improve public transport and enhance walking and cycling routes along the A4 Portway will be presented to the Transport and Connectivity Committee next month. On Thursday, 6 February, Bristol City Council will vote on whether to submit a full business case for the A4 Portway transport corr
Stuart CanvasT & D Glazing And Installation LimitedEfco UK LtdThink Construction Skills Ltd.Aqua Direct LtdBRICOFLOR UKLakeside HireSpeedy Street Solutions LtdRhino Steel Cladding LimitedSpeedy Street Solutions Ltd