Financial advisers 'can help homeowners'

The government needs to recognise the help that financial advisers can provide to mortgage borrowers, according to an expert.

Chris Cummings, the director general of the Association of Independent Financial Advisers (AIFA), made the comment when discussing the Treasury''s new package to help homeowners who may struggle to make repayments.

He said that advisers can play a "key role" in assisting anyone who needs help, adding that it can help them "adopt better financial management".

The expert added: "Some lenders are helping by sharing information with intermediaries on homeowners who are getting into arrears problems.

"Helping consumers better manage their finances through better budgeting means they are less likely to be a burden on the state and will not suffer damage to their credit ratings."

The Treasury''s new £10 million package of measures includes extra funding for the Citizens Advice Bureau, which will help the organisation''s staff be better equipped to deal with borrowers who may struggle to meet repayments.

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