People need help say National Homebuyers
More needs to be done to help homeowners who are struggling to avoid repossession.
[UKPRwire, Tue Feb 12 2008] That is according to homeless charity Shelter, which wants the government and mortgage lenders to join forces and take action.
It comes as the latest figures reveal that around one million people face a battle to avoid repossession in 2008.
Shelter has reported a rise in the number of people contacting it because they have run into difficulties with their mortgages and the charity is keen to see some real changes being made.
"Shelter has seen a massive increase in people coming to us with mortgage problems, and with repossessions set to rise throughout this year, we simply haven't got the resources to help everyone," revealed chief executive Adam Sampson.
"The government, mortgage lenders and the Financial Services Authority must take responsibility and start repairing the broken state safety net to ensure that if people face difficulty, there is protection in place and somewhere to turn for advice," he concluded.
Money Expert recently revealed that almost half a million borrowers have missed a mortgage payment in the last six months. Julian King of National Homebuyers comments, "We anticipate a growth of 50 per cent in the number of repossessions this year.
"Homeowners are not acting quick enough to the threat of repossession. Options exist to help the homeowner in financial difficulty and we advise those facing problems to act fast."
Mr King is a director of National Homebuyers, the UK's leading Quick Property Sale company offering a fast purchcase of any property or a Sell and Rent Back agreement, allowing the homeowner to sell their property, but remain living their as a tenant. Mr King is also a founder member of APBA, the Approved Property Buyers Association, which is calling for government regulation of the Quick Property Sale and Sell and Rent Back industries.