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Shelter welcomes the Governments extension of schemes to support struggling homeowners, but warns that funding must be protected longer-term to avoid a ‘huge surge’ in homelessness.
Chief Executive Campbell Robb explained that Shelter has welcomed the new Governments recognition of the importance of the current Homeowner Mortgage Support (HMS) and Mortgage Rescue Scheme (MRS), along with the commitment to continue funding for them until the end of the year.
However, he has warned that the ongoing economic crisis could still pose a serious threat to the fragile mortgage market and push more and more people into arrears in the coming months and years. He went on to advise that it is therefore vital that the Government does not weaken the safety nets for struggling homeowners further or we could see a huge surge in homelessness.
Mr Robb went on to say that it is crucial that Support for Mortgage Interest, which currently helps 220,000 struggling homeowners must also be maintained to avoid thousands more homeowners being at risk.
Last week advice charities including Shelter and Money Advice Trust, sent a joint letter to Housing Minister Grant Shapps, urging the protection of funding for vital debt advice in the upcoming Comprehensive Spending Review.
The full news article can be viewed here: Shelter: Homeowner help warning
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Chief Executive Campbell Robb explained that Shelter has welcomed the new Governments recognition of the importance of the current Homeowner Mortgage Support (HMS) and Mortgage Rescue Scheme (MRS), along with the commitment to continue funding for them until the end of the year.
However, he has warned that the ongoing economic crisis could still pose a serious threat to the fragile mortgage market and push more and more people into arrears in the coming months and years. He went on to advise that it is therefore vital that the Government does not weaken the safety nets for struggling homeowners further or we could see a huge surge in homelessness.
Mr Robb went on to say that it is crucial that Support for Mortgage Interest, which currently helps 220,000 struggling homeowners must also be maintained to avoid thousands more homeowners being at risk.
Last week advice charities including Shelter and Money Advice Trust, sent a joint letter to Housing Minister Grant Shapps, urging the protection of funding for vital debt advice in the upcoming Comprehensive Spending Review.
The full news article can be viewed here: Shelter: Homeowner help warning
More...
