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Struggling mortgage holders `should seek advice` Remortgage enquiries `rise in June` Mortgage approvals `up in June` UK mortgage market remains weak, CML says Consumers `should avoid lying on mortgage applications` BoE releases Trends in Lending report Brits `prioritising debt repayment` "Sensible lending" needs to be restored for home buying Many households `to miss mortgage payments` Homeowners `increasingly paying off mortgage debt` Booklet produced for those facing mortgage repayment problems Local authority defends decision to offer 100% mortgages Mortgage lending levels `still low` CML welcomes campaign on repossessions Consumers `increasingly offsetting savings against mortgages` Banks `should be encouraged to provide more mortgages` Younger and richer people `benefiting more from mortgage reductions` Bank of England cuts base rate Negative equity `concerning UK mortgage holders` Interest rate cuts `were not anticipated by consumers`

New arrears guidance issued by CML

23/10/2008

The Council of Mortgage Lenders (CML) has issued new guidance concerning the treatment of consumers who fall behind on their mortgage payments.

Aiming to give lenders practical advice and examples of good practice, the resource is a reference point for companies, rather than a definitive statement of what lenders should do.

It is intended to help firms keep people in their homes, making repossession a last resort.

CML director-general Michael Coogan said: "Despite the fact that the rate of repossession is modest, we recognise that there is significant public concern about this subject."

He added that the guide should help to ensure that checks and balances that protect consumers are in place.

Earlier this month, the government called on lenders to provide greater assistance to homeowners who are struggling to make their mortgage payments.

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