The information campaign, which seeks to help borrowers stay in their homes by taking control of their payment problems, reinforces key messages from lenders to mortgage customers:
• Don't ignore the problem.
• Get help by talking to your lender.
• It's never too early to contact your lender to talk about your worries.
The CML has welcomed the launch. The CML's director general Michael Coogan said: "We welcome this additional initiative by the government to remind borrowers to speak to their lender at the earliest possible opportunity, and preferably as soon as they think they might miss a payment. Avoiding possession is as important to lenders as it is to borrowers, and an early warning will help reduce the risk of this worst-case outcome.
"Most customers who are committed to resolving their problems and working with their lender can successfully manage their way through a period of short-term payment difficulty and avoid possession."
If you have a client who may need help they can visit http://mortgagehelp.direct.gov.uk.
