Government Announces Support For Homeowners - 28/04/2009 |
 Paul Goggins MP is joining forces with Housing Minister Margaret Beckett to highlight the help available to keep people in their own homes if they fall on difficult times.
The Homeowners Mortgage Support (HMS) scheme will enable eligible borrowers who suffer a temporary loss of income to cut their mortgage interest payments for up to two years to help them get back on track with their finances.
Paul Goggins said: “This excellent scheme will ensure repossession is always a last resort. I want everyone in Wythenshawe and Sale East to be aware of what help is available.
“The Government is committed to helping people through these difficult times. Losing your home is one of the most devastating things that can happen but we are determined that hard working people, who are facing difficulties such as temporary unemployment, are not left to fend for themselves.
“This stands in contrast to the Conservative plans to slash £810 million from the communities’ budget – a cut which could have a devastating impact on local people.”
Margaret Beckett welcomed the support from Paul Goggins MP adding: “We know that many families are worried about how to pay the mortgage right now, and we’re determined to ensure there is real help available for them.
“Today’s news is a result of excellent co-operation between Government, lenders, and money advice services. On top of the range of measures we’ve already put in place, this new support will help borrowers who just need a bit more time to get themselves back on their feet. This is in stark contrast to the early 1990s when there was nothing.
“The clear message to borrowers is to contact your lender straight away if you’re concerned about how to pay the mortgage as often a solution can be found.”
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