Council of Mortgage Lenders calls for more support on repayments

21 November 2006
The Council of Mortgage Lenders (CML) has called on the government to strengthen the 'safety-nets' for homeowners borrowing for mortgages.

The CML argues in its pre-Budget report that borrowers who find it difficult to make repayments need more support.

According to the CML, home-ownership is by far the most popular form of tenure in the UK, with loans over £1 trillion funding 11.6 million mortgages - but government support does not reflect this.

CML head of research and information Bob Pannell said: "It is surprising that at a time when the government is promoting the wider benefits of home-ownership, the safety-nets it has in place to help struggling home-owners are being neglected."

CML figures just released show that lending for October hit a new monthly record – at £30.3 billion for the month alone.

But in September, Citizens Advice Bureaux warned that around 770,000 people had missed one or more mortgage repayment in the past year.

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