Homeowners get help
EAST Devon homeowners struggling with mortgage payments now have support to help them if they fall on difficult times.
EAST Devon homeowners struggling with mortgage payments now have support to help them if they fall on difficult times.
Homeowners Mortgage Support (HMS) enables eligible borrowers who suffer a temporary loss of income to cut their interest payments for up to two years.
This is available throughout the UK and is the latest in a range of measures to ensure that repossession is the last resort.
Secretary of State Margaret Beckett said: "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.
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"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.
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"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.
