Treasury announces support for homeowners

HM Treasury has announced a new package of support for homeowners who may need advice or support with mortgage issues.

The £10 million initiative includes funding to train up Citizens Advice Bureau staff and local authorities on how to help those who may have some difficulties with making repayments on home loans.

According to the Treasury, the mortgage industry is also working on improving its guidance for customers, particularly those who are soon to face changes in their fixed-rate repayments.

Discussing the measures, chancellor of the exchequer Alistair Darling said it had become clear that some borrowers have concerns over the current marketing conditions.

"That is why it is vital that the government, working with industry, offers as much support as possible both directly to those people and to the consumer advice groups who can help them in their day-to-day lives," he added.

Mortgages were recently found to be one of the most openly discussed financial issues in the UK in research by Saga.

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