Mortgage borrowers struggling say National Homebuyers

Citizens Advice is calling for the national provision of generic financial advice (GFA) to help those in financial difficulties.

[UKPRwire, Tue Jan 22 2008] The organisation has carried out a pilot scheme, which saw it work alongside independent financial advisors.

According to Citizens Advice, the scheme was a success, with over 400 people with financial difficulties using the service within the first few months.

The most common enquiries were from people struggling to keep up with their mortgage payments and those looking to release the equity locked up in their homes.

"The results so far of partnering Citizens Advice Bureaux with independent financial advisers in the Moneyplan project indicate both that there is a need for a national generic financial advice service, and that this is an effective model for delivering it," said Jackie Nowell, head of partnership development at Citizens Advice.

"The range of issues presented to the IFAs is broad, but it appears that there is particular demand from those who may own their own homes, but have low incomes.

"This evidence emphasises that there is a gap in provision which needs to be addressed," she continued.

Fast property sale expert Julian King adds, "Homeowners with impending financial difficulties should consider a Mortgage Rescue Scheme such as Sell and Rent Back.

"With Sell and Rent Back the homeowner is able to sell their property quickly, often avoiding bailiffs or repossession, but remain living in their home.

"Sell and Rent Back is a fast and simple equity release solution that will solve many thousands of homeowners' financial problems in 2008.

"Providing the homeowner acts quickly".

Mr King is a director of National Homebuyers, the UK's leading Sell and Rent Back provider. The company also arranges for immediate purchases of properties for vendors who need a quick house sale for whatever reason.

Company: National Homebuyers

Contact Name: Jayne Cornford

Contact Email:

Contact Phone: 08709798118

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