A new government initiative aimed at helping homeowners affected by the economic downturn has been introduced.
It enables them to lower their home
Housing minister Margaret Beckett hailed the move, stating that it is a “result of excellent co-operation between the government, lenders, and money advice services”.
It will allow property owners who are struggling with
Citizens Advice was among the organisations who welcomed the scheme, with spokesperson Teresa Perchard noting that there is now “a lot more help out there” for people in arrears.
She urged people having repayment troubles to contact lenders to discuss problems.