8
Sep
CML welcomes new campaign to help struggling mortgage customers
A new government campaign which is designed to help those having
difficulty meeting their mortgage repayments has been praised by
the Council of Mortgage Lenders (CML).
Taking control of the payment worries of struggling borrowers, the
initiative aims to deliver three core messages to those with
financial difficulties.
These are do not ignore the issue, access help from your lender as
soon as possible and never reason that it is too late to seek
assistance from them.
Director general of the CML Michael Coogan said that the campaign
is helping to encourage people to tackle the problem as soon as
they think they may miss a payment.
He added: "Most customers who are committed to resolving their
problems and working with their lender can successfully manage
their way through a period of short-term payment difficulty and
avoid possession."
This news follows the CML's approval of the Treasury Committee's
report on mortgage arrears last month.
