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Construction News
19/05/2009
Mortgage Support Helps Save Homes
Fewer people are losing their homes, due to measures introduced by the government to support homeowners during the current economic climate.
A total of 17,054 orders against mortgage defaulters were issued by the courts from January to March 2009, compared to 29,771 in the previous quarter - a reduction of 43% - according to National Statistics released by the Ministry of Justice. The figures also show a drop of 13% in the number of claims issued since the last quarter of 2008.
The Lord Chancellor and Secretary of State for Justice, Jack Straw, said: "The government has taken decisive action to support homeowners and protect vulnerable families from the threat of repossession.
"Although there is no room for complacency, today's figures demonstrate that active intervention works and that problems can be resolved without ending up in court. We will continue to do all we can to help lenders and borrowers work together to find solutions.
"We urge households at risk to talk to their lenders and seek advice as soon as possible. There are in-court advice desk schemes providing advice."
(CD/JM)
A total of 17,054 orders against mortgage defaulters were issued by the courts from January to March 2009, compared to 29,771 in the previous quarter - a reduction of 43% - according to National Statistics released by the Ministry of Justice. The figures also show a drop of 13% in the number of claims issued since the last quarter of 2008.
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The Lord Chancellor and Secretary of State for Justice, Jack Straw, said: "The government has taken decisive action to support homeowners and protect vulnerable families from the threat of repossession.
"Although there is no room for complacency, today's figures demonstrate that active intervention works and that problems can be resolved without ending up in court. We will continue to do all we can to help lenders and borrowers work together to find solutions.
"We urge households at risk to talk to their lenders and seek advice as soon as possible. There are in-court advice desk schemes providing advice."
(CD/JM)
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