Get good advice, struggling mortgage payers told

Those having problems meeting their mortgage payments should look to get some advice as soon as they can, a representative of a housing charity has said.

Director of policy and campaigns at Shelter Kay Boycott remarked: “It’s vital that anyone struggling seeks independent advice now to ensure they don’t drown in the second wave of repossessions.”

She was commenting after Financial Services Authority data revealed that the last three months saw 13,610 homes in England being repossessed over the past three months.

This was up by 30 per cent on the equivalent period in 2008.

For some people, changing their mortgage product to a cheaper one may provide the answer.

Recent government moves to lower the number of homes being lost were recently described as being “too little, too late” for many by chief executive of estate agency haart Paul Smith.

He said the government could take no credit for keeping down the tally, unlike lenders and voluntary bodies, who had been helpful.

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