Assembly Member welcomes drop in repossession figures

2011 Mai 12 10:23 PM
Cyhoeddwyd yn wreiddiol gan Peter Black a Democratiaid Rhyddfrydol Gorllewin De Cymru

Peter Black, Welsh Liberal Democrat Assembly Member for South West Wales, has welcomed the latest figures from the Council of Mortgage Lenders showing that repossessions between January and March 2011 were down 10% on the previous year. Peter Black portrait (Richard Thomas)

The total number of mortgages in arrears also continued to fall, and numbers fell in all but the deepest arrears band.

Mr. Black said: -"This is good news, suggesting that lenders are being reasonable and sympathetic to the position some families inadvertently find themselves in. It is also testament to the work of advice agencies that are supporting these families through hardship.

"We know that there are difficult times ahead for some households, who we need to keep working hard to support. It is reassuring to know that mortgage lenders have a range of options available to support struggling borrowers and there are advice agencies such as Shelter, Citizens Advice or National Debtline reaching out to people.

"Often the families trying to gain control of their arrears are in employment and are unaware of the advice and services available to them. 'Work it Out!' is a project piloted by Shelter Cymru to help those people facing difficulties through redundancy or reduced hours, enabling them to avoid repossession."

ENDS

Notes to editors: The Council of Mortgage Lenders' latest news: http://www.cml.org.uk/cml/media/press/2914

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