More help for Putney homeowners

Today the Government announced new rules to help protect homeowners who may be facing the threat of repossession. New court protocols will help make repossessions a last resort not a default response, and the Government is proposing that companies engaged in sale and rent back schemes - which can often target vulnerable home owners - should be properly regulated.

Lenders will now be expected to demonstrate that they have tried to discuss and agree alternatives to repossession when borrowers get into trouble with their mortgage repayments. If a case reaches court, lenders will be required to tell the court precisely what they have done to comply with the protocol. The expansion of free legal representation in courts for households at risk of repossession and an increase in free debt advice will also help protect those most in need.

This is exactly the help we need to make sure there is help for those Putney, Roehampton & Southfields homeowners who might be hardest hit in the tougher times ahead, ensuring repossession is the last resort not the first.

It is right to ensure that every avenue has been explored before lenders seek to repossess homes. And now the public has a major stake in several of the biggest mortgage lenders, it is also right that the people's priorities are addressed in the Boardroom.

For more information on the package, click here.