A new government initiative designed to assist struggling mortgage holders has been welcomed by the Council of Mortgage Lenders (CML).
The national campaign will provide information to homeowners who are having difficulties making their repayments.
It is intended to help such people remain in their homes by taking control of their finances.
The campaign urges mortgage holders not to ignore financial problems and to get help by talking to their lenders.
CML director-general Michael Coogan stated: “We welcome this additional initiative by the government to remind borrowers to speak to their lender at the earliest possible opportunity and preferably as soon as they think they might miss a payment.”
He added that the majority of consumers who are committed to resolving their problems and working with their lenders will be able to successfully navigate their way through a period of short-term payment problems without losing their homes.
A trade association for the mortgage lending industry, the CML’s membership comprises banks, building societies and other lending institutions.
