Today the FCA published its findings on how mortgage lenders manage customers with long-term mortgage arrears and provide forbearance to affected customers.
Paul Broadhead, Head of Mortgage Policy at the BSA comments:
“We welcome the FCA’s constructive findings on long-term mortgage arrears published today. Building societies have focused their efforts on keeping consumers who are experiencing financial difficulties in their own homes, with repossession as a last resort.
"We encourage anyone who is facing a financial squeeze to get in touch with their lender early. The sooner the conversation starts the more likely it is that a solution can be found.”
The BSA has published consumer information with National Debtline which is available here.