Thursday, January 31, 2008

Shelter sees massive increase in people coming to us with mortgage problems

Shelter calls for new advice service to tackle rising repossessions

Shelter has today called on the Government and mortgage lenders to urgently set up a free, confidential advice service to help the growing numbers of homeowners hit by mortgage arrears and repossession. The call for a special arrears 'one stop shop' comes as figures show more than one million households could face repossession over the next year - 80,000 people have already sought help with mortgage problems from Shelter in the last year, up 10,000 from 2006.

Posted by converted lurker @ 12:51 PM (403 views)
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8 thoughts on “Shelter sees massive increase in people coming to us with mortgage problems

  • What sort of advice will they suggest ?

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  • new user 2007 says:

    I have a hard time caring. I am sure many have fallen into problems through no fault of their own (health, unemployment etc), but the ones who are struggling because of excess multiples etc are the cause of the problem and deserve everything they get. I hope the bulk of the calls will be BTL who over-extended themselves.

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  • handle_it:
    I agree, what advice will they offer? “Pay up or you’ll lose your home”? “Find another job quickly”? “Sell your kids into slavery”?
    Or will it be the kind of advice as seen on Spendaholics (BBC3) where someone sits you down, combs through your budget, and tells you to stop splurging on Starbucks? But if people have reached the point where they are calling Shelter with mortgage problems, they’ve probably already cut back on the mythical “latté factor”. I can’t see how a government helpline would help.

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  • If you look on Shelter Scotland website you will see they offer advice on various housing issues including advising landlords on their rights and the rights of their tenants.

    I assume what Shelter is saying is that while they usually offer advice to people re housing issues, they cannot cope with the increasing number of people requiring this service and are therefore suggesting that the government takes responsibility to ensure everyone has access to the kind of help that Shelter offers.

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  • This is the basic list of advice which Shelter offers:

    Get housing advice
    Homelessness
    Emergency help, Your rights, Help from the council
    Finding a place to live
    Leaving home, Renting, Council housing, Buying a home, Moving, Selling
    Paying for a home
    Tenancy deposits, Housing benefit, Rent arrears, Mortgages, Care and support
    Renting rights
    Your rights at a glance, Tenancy checker, Private, Council, Ending a tenancy
    Eviction
    By private landlord, By the council, Court action, Sheriff officers, Illegal eviction
    Repossession
    Preventing repossession, Going to court, Secured loans and second mortgages
    Repairs & bad conditions
    In private lets, In council housing, Adaptations, Home safety
    Families & households
    Problem flatmates, Relationship breakdown, Domestic abuse
    Neighbourhood issues
    Antisocial behaviour, Boundary disputes
    Complaints & court action
    Solicitors, Court action, Discrimination

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  • it_is_going_with_a_bang says:

    It is basically a case of alot of people living beyond their means.

    If they had been realistic about their earnings and outgoings they would not have taken out huge mortgages and would not be in the mess they are now in.
    Just how many people got a huge mortgage because they were told they had to get on the housing ladder.

    I for one, did not take out a huge mortgage I could not afford in the long term and hence I am not facing a financial crisis.

    It is a simple fact of life – live beyond your means and in the end it will catch up with you, property prices don’t always go up and interest don’t always stay at a historic 30 year low.

    I think what it means is the government is going to need to fund people like Shelter and Citizens advice so that they can help people deal with the process of going bankrupt in one way or another.
    Whether it credit cards or mortgages.

    Personally I feel the credit card / loans debts in this country are going to end up being as bad or worse than property loan debt.

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  • “I think what it means is the government is going to need to fund people like Shelter and Citizens advice so that they can help people deal with the process of going bankrupt in one way or another.
    Whether it credit cards or mortgages.”

    Yes, that would probably be better than starting up another help-line. These organisations have already got the expertise but they will need the funding quickly. I think any organisation would struggle to deal with 8 times their usual workload. I imagine the number of calls could well increase further as unemployment and other issues start arising.

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  • ”What sort of advice will they suggest ?”

    sell up and get lost?

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