Tuesday, 21 October 2008

LEAP calls for emergency programme to tackle repossessions

As repossessions look likely to increase to 50,000 homes this year, LEAP has called on the Government to enact an emergency 'people's programme' to give people the 'right to stay'.

John McDonnell MP, LEAP Chair, said:

"Having bailed out the banks and underwritten bank lending, the Government must now lay out conditions to all mortgage lenders. The Government must also re-establish the role of Local Authorities in offering mortgages for part-and full-ownership.

"Before any repossession takes place, the mortgage lender must have already offered:
1) rescheduling the mortgage debts with lower payments
2) a payment holiday to allow customers to reconfigure their finances
3) a part-ownership / part-rented deal
4) mortgage conversion into social rent
This is essential to prevent the rush into court to repossess and for bailiffs to be mobilised.

"To implement these policies, the Government cannot rely on exhortation alone. It must force this agenda through using its ownership of banks, places on the boards of banks, or by statutory legislation."

1 comment:

  1. This government talks the talk and thats about all, we are told that banks will pay out the large bonus payments because as we know, if it's written into a contract of work it must be paid.

    But hell people must make a decent living it is a worry though that a lady or gent working at the front end of banking at the counter meeting customers they get £5,70 a hour. makes you wonder about governments and banks.