'GOVERNMENT MUST HELP LOCAL PEOPLE, NOT JUST BANKS' - BURT (Bromsgrove Liberal Democrats)

Bromsgrove Liberal Democrats <raygeoffray@aol.com>

'GOVERNMENT MUST HELP LOCAL PEOPLE, NOT JUST BANKS' - BURT

October 14, 2008 5:18 PM
Originally published by West Midlands Liberal Democrats

Commenting on new figures which show that the number of homes in Solihull, Birmingham, Coventry and Warwickshire being repossessed is up 21% on last year, Solihull's MP, Lorely Burt said:

"These figures show that the credit crunch is affecting local mortgage payers, forcing them right to the brink.

"With over 7000 people already on council house waiting lists in Solihull Borough, the rise in the numbers of residents losing their homes through failing to make their mortgage payments will only add to the housing crisis.

"Banks have become more and more aggressive in their behaviour, moving very quickly to repossess homes as the financial crisis worsened and credit dried up.

"Following Gordon Brown's £37 billion British bank bail-out, he must now honour his commitment to make housing a priority by ensuring that these same banks do all they can to ease problems for home owners who are struggling to make their mortgage payments."

ENDS

Notes to editors:

1. The number of houses repossessed following default in mortgage payments in Solihull, Birmingham, Coventry and Warwickshire during the first half of 2008 reached 4,218.

2. Figures are based on the number of mortgage repossession claims issued in the first two quarters of 2008 and % change since the same period in 2007. Source: Ministry of Justice.