Government launches repossession campaign

8 September 2009

Natalie Martin

Housing minister John Healey has today launched a national campaign to help struggling homeowners take control of their finances and avoid repossession.

A series of press, online and billboard advertisements will highlight the measures the government has put in place at every stage for homeowners to avoid repossession.

The advertisements will point people to an advice line and a website illustrating the practical steps they can take to resolve their mortgage repayment worries.
While this will be a national campaign, extra advertisements will appear in 22 hotspots - areas facing a greater risk of increased repossessions due to higher levels of unemployment and numbers of court orders.

Healey says: "In most cases where people seek help they are able to keep their home, so we have made sure a range of support is available to them.
"The action we've taken means we've seen recent drops in the numbers of repossessions, but there's no room for complacency. The message of today's campaign is clear: it's your home - let's keep it that way.

"The adverts will appear across the country, and particularly in those 22 most at risk, to reassure people that they are not alone, and that help is out there at every step of the way."

Michael Coogan, director general of the Council of Mortgage Lenders supports the scheme, he says: "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.

"Avoiding possession is as important to lenders as it is to borrowers, and an early warning will help reduce the risk of this worst-case outcome.

"Most customers who are committed to resolving their problems and working with their lender can successfully manage their way through a period of short-term payment difficulty and avoid possession."