Scheme launched to help those facing repossession

During these straitened times, the risk of repossession can be a very real threat for some families living on the edge of serious debt problems, but one scheme could provide a vital lifeline for those on the brink of losing their home.

Shelter and Legal & General have launched Brokering Change, a new fundraising initiative that could keep some consumers from being pushed out of their property.

The scheme asks brokers to donate a recommended amount of £1 to Shelter from the procurement fee made from every mortgage they complete.

Chief executive of Shelter Campbell Robb said: "The money raised through this scheme will make a real difference, ensuring we can help as many people as possible in these difficult times."

He added that the charity is "grateful" for the support it has been given by Legal & General and noted that the homeless charity is "thrilled" to be launching the scheme this week.

Brokers who sign up to take part in Brokering Change will be given materials to show their support of the cause, such as certificates, the use of the initiative's logo to promote their social responsibility activity to customers, in addition to updates from the Shelter on how their donations are being put to good use supporting people in need to help with their housing situation in the UK.

Repossession fears may also play a part in the Bank of England's Monetary Policy Committee's decision to keep the base rate as it is, as an increase will push up home loan repayments, which could push many families over the edge.