Help families to save homes from repossession (Aldershot Constituency Liberal Democrats)

Aldershot Constituency Liberal Democrats <info@aldershotlibdems.org.uk>

Help families to save homes from repossession

October 2, 2008 8:30 PM

Charlie Fraser-Fleming is calling for help for families facing repossession

Lib Dem Councillor Charlie Fraser-Fleming is calling on the Government to back a Lib Dem plan to help families who are struggling to keep up their mortgage payments and are facing the threat of homelessness.

Cllr Fraser-Fleming said, "The fear of repossession is stalking communities in our area and the Labour government is not doing enough to protect people from the worst effects of the mortgage crisis."

"People who lived through the last mortgage crisis under the Conservatives will never want to experience the same situation again. That is why I am pleased Lib Dem MP Vince Cable is putting forward these plans."

The Liberal Democrat proposals include:

*Allowing families to sell all or part of the equity in their house and rent it back from a housing association or private firm to help them keep their home.

*Letting Councils and housing associations borrow money to buy up land and empty new homes for use as social housing.

*Giving guidelines to courts to allow homes only to be repossessed in extreme circumstances, making the mortgage lenders voluntary code binding on all lenders

Vince Cable said, "The Government seems obsessed with fighting a losing battle to artificially prop up the housing market, rather than finding ways to deal with its worst effects. Ministers must act to help the thousands of families struggling to keep a roof over their heads."