Hazel Blears MP today highlighted the help available to keep people in their own homes if they fall on difficult times. 

The Homeowners Mortgage Support (HMS), which is a result of excellent co-operation between Government, lenders, and money advice services, will enable eligible borrowers who suffer a temporary loss of income to cut their mortgage interest payments for up to two years to help them get back on track with their finances.

Hazel Blears MP said:

“This excellent scheme will ensure repossession is always a last resort. I want everyone in Salford to be aware of what help is available.

“The Labour Government is committed to helping people through these difficult times. Losing your home is one of the most devastating things that can happen but Labour is determined that hard working people, who are facing difficulties such as temporary unemployment, are not left to fend for themselves.

“This stands in contrast to the Tory plan to slash £810 million from the communities’ budget – a cut which could have a devastating impact on those people.”

 “I know that some families are worried about how to pay the mortgage, and the Government is determined to ensure there is real help available for them.

 “On top of the range of measures we’ve already put in place, this new support will help borrowers who just need a bit more time to get themselves back on their feet. This is in stark contrast to the early 1990s when there was nothing.

“The clear message to borrowers is to contact your lender straight away if you’re concerned about how to pay the mortgage as often a solution can be found.”