LABOUR OFFERS A REAL HELP TO HOMEOWNERS

- Wendy urges Buddies to apply –

Labour has announced new support to help homeowners throughout the UK who fall on difficult times to avoid repossession of their homes.
Homeowners Mortgage Support (HMS) will enable eligible borrowers who suffer from 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.
Lenders covering more than 80 per cent of the mortgage market will now be providing enhanced support to their customers. Borrowers will receive independent money advice as part of these changes to help them make the right decisions for their circumstances.

Wendy Alexander Labour MSP for Paisley North said:
“Borrowers who are interested in applying for Homeowners Mortgage Support or the equivalent offer, should contact their lender to check their eligibility. More information for consumers on Homeowners Mortgage Support can be found at www.direct.gov.uk/HMS .”
Ms Alexander stated that:
“This is great news for homeowners, and an issue I have myself raised in the Scottish Parliament. During these difficult times, we must do everything we can to help people to live in their own homes.”
Ms Alexander continued by saying:
“The clear message to borrowers is to contact your lender straight away if you’re concerned about how to pay the mortgage because often a solution can be found.”

Mike Parnis, a Financial Adviser at Penny lane homes commented on the housing market in Paisley as “…still challenging, but getting better.

Furthermore he gave the following advice to homeowners struggling to meet their mortgage payments.

“I cannot urge people too strongly if they foresee any problems with meeting their mortgage payments – do not get overwhelmed. Instead, seek help of the kind offered here as soon as possible.”