'Reach Out' aims to raise awareness of the support available to mortgage customers
UK Finance, a trade body for the UK banking and financial services sector has launched a campaign to encourage people to reach out to lenders if they are struggling with their mortgage payments.
Aiming to raise awareness of the support available to mortgage customers, the ‘Reach Out’ campaign will be seen across out-of-home advertising, radio, print and digital starting this week. Television advertising will be launched in September.
The campaign, which is supported by lenders and produced in partnership with creative agency M&C Saatchi London, follows the announcement of the Mortgage Charter where government, lenders, and the Financial Conduct Authority agreed to far-reaching new support measures for customers.
Today sees the launch of our #ReachOut campaign.
— UK Finance (@UKFtweets) July 31, 2023
This is aimed at consumers who may be struggling with their mortgage repayments.
It includes key information on where to get advice and what commitments lenders are making through the Mortgage Charter.https://t.co/4RL7TgZXt2.
Over 40 mortgage lenders, representing 90% of the mortgage market, have already signed up to the government’s new Mortgage Charter, committing them to additional support for borrowers. This includes giving customers approaching the end of a fixed-rate mortgage the chance to lock in a deal and request a better like-for-like deal if rates change up to six months ahead, and a guarantee of no possession within 12 months of your first missed payment.
According to UK Finance, lenders have readied their teams of experts which will help anyone struggling with their mortgage payments, and a range of options is also made available, tailored to each person’s circumstances.
Last year, lenders helped over 200,000 borrowers who couldn’t meet their full mortgage payments and more than two million who needed financial difficulty assistance.
“We have launched this campaign with our members to make sure that anyone struggling with their mortgage payments knows that help is available,” David Postings (pictured), chief executive at UK Finance, stated in an article detailing the launch of the campaign.
“Lenders are ready to provide support even if a customer’s payments are up to date – if you’re struggling with your mortgage, or think that you will struggle, ‘Reach Out’ to find out the options available for help.”
Clare Richardson, business director at M&C Saatchi, added that lenders had responded to interest rate pressures with real support for customers in need.
“The campaign will deliver this message at pace and scale to people who are concerned and make a real, meaningful difference,” Richardson said.
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