Debt Advice Could Help Prevent Home Repossession

Thu, 17 Sep 2009

Homeowners in the UK who are at risk of having their property repossessed should consider speaking to a debt advice specialist.

Latest figures from the Financial Services Authority (FSA) show that the number of UK properties taken into possession in the second quarter of 2009 fell by nine per cent from the previous three-months.

However, the threat of home repossession remains very real for a large number of people across the country.

Commenting on the FSA figures, the Building Societies Association (BSA) said that borrowers who face losing their house should be proactive in finding a solution to their problem.

"The earlier a borrower contacts their lender, the more likely they are to stay in their home," commented, Paul Broadhead, head of mortgage policy at the BSA.

"Borrowers contacting their building society will find a sympathetic response and that their society will work with them to help overcome their problems."

A website offering advice about home repossession was recently launched by the government. Homeowners could also receive useful advice by contacting a debt help specialist.
add to favouritesnewsletterlink to this pagesend to friendpost comments

Link to this page

Copy and Paste the following HTML into your page.