To ask the Secretary of State for the Environment what further action he intends to take to assist home owners facing repossession who are in difficulties meeting their mortgage payments.
All mortgage borrowers will have been helped by the 5 per cent. reduction in base rates since October 1990.The Government agreed a package of measures to help borrowers at risk of repossession with the Council of Mortgage Lenders in December 1991. We reviewed progress on that package with CML members on 2 June. They estimate that measures taken since December will save some 55,000 repossessions this year, and that the number of homes repossessed this year will fall.