Government finally seeing mortgage payment problems, says haart

Date:Friday 11th September 2009
Author: Susanna Kavka

Written Susanna Kavka

The government has finally realised the difficulties that some homeowners are having with their mortgage payments, but it is too late for some, says haart.

Paul Smith, chief executive at the estate agent, says the reason why customers have been able to resist defaulting on their mortgages up until now is because of help from organisations such as the Citizen's Advice Bureau, not the government.

He made his comments following the launch of a government campaign offering advice to people who are in danger of having their house repossessed.

"Homeowners are finding mortgage costs a lot cheaper, plus those who were in negative equity are now finding this is easing due to rising property prices," he added.

Mr Smith pointed out that now is a good time for people to buy property since asking prices and mortgage interest rates are still low.

The government's media campaign will feature statistics of how many people it has helped with mortgage payments as well as offering recommendations for those currently worried about their situation.