Tuesday, February 24, 2009
More housing market props being assembled
Lenders that repossess too quickly should face tough sanctions from the government, a government committee has recommended. A report from the Communities and Local Government Committee entitled ‘Housing and the Credit Crunch’ argues that lenders’ attitudes and behaviour towards repossession should be closely monitored by government. MPs are calling for more effective sanctions for lenders that do not comply with repossession guidelines.