Housing minister Grant Shapps has announced a £20m fund for local housing authorities which they can use to help people facing repossession.
Of the total amount, £19m is allocated for a Preventing Repossessions Fund and £1m will contribute to Housing Court Possessions Duty Desks.
The Preventing Repossessions Fund will allow local authorities to give small interest-free loans, or grants, to households at risk of repossession.
The Duty Desks will offer households free legal advice and representation on the day of a possession court hearing, regardless of an individual’s financial circumstances.
This funding ensures universal access so that all households at risk of possession or eviction can access free legal advice when attending court.
Details of the amount awarded to each authority will be made available on the Communities and Local Government website.
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Comments
I've get them living in the woods near me, but they can at least walk to the hand car wash to clean me car, so it works for me, all for £6!
Why is this help only given to people with mortgages what about people that live in rented accomodation and cannot keep up there rent payments due to losing thre job? Is there a similar scheme for them?
Yes it is called Housing Benefit.
Dippy Dave - you may well jest but why not tents for repossessed as well? We are in times of austerity and tents is exactly what is happening to those who have handed there keys in USA!
Yep tents.
Why is this help only given to people with mortgages what about people that live in rented accomodation and cannot keep up there rent payments due to losing thre job? Is there a similar scheme for them?
I think it's great news to help people facing reposession, and stop them from becoming another statistic in social housing. As long as they do the appropiate checks so this is not abused by people unable to curb their excessive spending rather than those facing serious hardship. I know a few people who have had their house reposessed - but they manage to go on two or more holidays a year and have a new car and designer clothes etc.. Repossession is due to them not adjusting to the current financial climate and overspending. Whilst others have been hit by job losses, reduction of hours, illness etc, and this could be a lifeline that will save their family and their home.
@ Dippy Dave - while some Agents may constantly overvalue properties, not all of us do. A property is worth what someone is willing to pay for it, so the Agent who overvalues, is wasting his (and the Owners) time as well as money on advertising, viewings, call-outs etc. which is neither cost-effective nor good for their reputation. We are a small private company and have lost a fair share of Instructions to an nationwide Estate Agency chain round the corner from us due to them cosistently overvaluing properties. Most of the time - and after several reductions over several weeks, we end up getting a call from the Owner, telling us that our original valuation was correct. They instruct us and usually the flat is let within days. We don't aim to drive prices up - the increase in fees would be cancelled out by the reduction in people renting or buying properties as they can't afford them any longer. Sadly the only way to stop these "big boys" getting these instructions by overvaluing, is if the Owners do their homework first and instruct the Agent who has given them the most accurate rather than the highest valuation... They would soon get the message when the Instructions dry up... :-)
Good one ;)
Kick them out, save the money, let prices fall then we can buy cheap. I am not sure what cheap is as you agents over value everything.