Are you facing repossession? Help may be at hand from your local council
A recent report from the New Local Government Network think tank states that councils should use their lending powers to help families who are threatened with repossession or eviction.
The theory behind the report is that councils could help by offering whole or partial mortgages at below the market rate.
The government says it is taking action to support borrowers in difficulty with a £10m package of measures including face-to-face advice about debt.
Hopefully the minority of you faced with this difficult situation can find solace in that the fact that your local council may be able to provide you with the help and advice you need to be able to stay in your own home.
Lyndon Campbell, Head of Simpson Millar's Conveyancing team states "Although the housing market is currently experiencing a downturn, it works on a cyclic basis and we will see an upturn in the future".
"Any assistance that the local councils and the Government can provide is only going to be a good thing while we wait for the market to stabilise."
If you would like further information please check out our conveyancing
section of the website.