Government solutions “too little, too late” for struggling homeowners

Government initiatives to assist people in paying their mortgages – such as the series of advertisements in the press and online to raise awareness of measures in place to help people avoid repossession – has been dubbed “too little, too late” by an industry expert.

Estate agency haart’s chief executive Paul Smith remarked that for those families already struggling with debt management issues, the moves by the government will be of little use and it is “disingenuous” for it to take the credit for helping those at risk.

“It is because of organisations like the poorly-funded Citizens Advice Bureaux which have helped people with their budgeting, as well as lenders who have been more lenient in the current financial market,” he said.

The government advertisements direct people to an advice helpline and a website that has information relating to mortgage repayment resolution, which – it claims – has helped more than 300,000 affected by debt problems since April 2008.

By Sarah Adie