This should do the trick. (HT A Slade)
HM TREASURY
PN 44/08 9 May 2008
Strengthening support for home owners in current market conditions
A new £10 million package of measures to support home owners who may be facing difficulties with their mortgage, is announced today by Chancellor of the Exchequer, Alistair Darling and Housing Minister Caroline Flint.
This package includes measures to ensure that financial advice and support is available for borrowers who may need it and includes an additional £9 million extra funding for face-to-face debt advice provided by third sector partners including Citizens Advice Bureau.
Today’s announcement will also ensure:
* expanded access to free legal representation at county courts throughout England for households at risk of repossession;
* strengthened National Housing Advice Service to provide a new comprehensive debt advice service; and
* more specialist training for Citizen Advice Bureau staff and local authorities on debt advice to help families get their finances back on track….
Phew. But in return for such largesse, Darling et al want payback:
As a result of that work the government wants to see best practice guidance that will ensure:
* people on fixed rate mortgages are given sufficient warning before their repayments change;
* banks and building societies will engage with customers early to see if they can help people who are experiencing short-term difficulties by rescheduling repayments;
* banks and building societies will provide advice to individuals on how they can access independent debt advice at the earliest possible stage; and
* repossession will only be used as a last resort.