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Written question asked by David Amess (Conservative) on Monday, 20 October 2008, in the House of Commons. It was due for an answer on Wednesday, 22 October 2008. It was answered by Ian Pearson (Labour) on Wednesday, 29 October 2008 on behalf of the Treasury.

Repossession Orders

Question
To ask the Chancellor of the Exchequer what estimate he has made of the number of house repossessions which have taken place in (a) Southend West constituency and (b) the United Kingdom as a result of the current financial situation; what steps he (i) has taken and (ii) plans to take to assist people facing repossession of their property; and if he will make a statement.
Answer

The Government do not hold these figures. The Council of Mortgage Lenders (CML) publishes the total numbers of properties taken into possession, available at:"http://www.cml.org.uk/cml/statistics"In 2004 the Government extended the scope of Financial Services Authority (FSA) regulation to cover mortgages, helping ensure suitable protection for borrowers, including those experiencing arrears or repossession.On 22 October, the Government confirmed that the Master of the Rolls had approved a new protocol for mortgage possession cases, which compliments existing regulation, and sets out clear standards that judges may expect of lenders bringing repossessions cases in the courts.On 2 September, the Government announced a significant package of measures to help borrowers in difficulty, help first time buyers and support the house building industry. Further details of these measures are available on the HM Treasury website:"http://www.hm-treasury.gov.uk/newsroom_and_speeches/press/2008/press_88_08.cfm"the Department for Communities and Local Government website:"http://www.communities.gov.uk/news/corporate/950558"and the Department for Work and Pensions website:"http://www.dwp.gov.uk/aboutus/news/#smi"The Government also provides assistance for homeowners facing financial difficulties through the provision of debt advice. It announced in May 2008 a £10 million package of measures to ensure that financial advice and support is available for borrowers who may need it. Details of the announcement are available at:"http://www.hm-treasury.gov.uk/newsroom_and_speeches/press/2008/press_44_08.cfm"

Secondary information

Type
Written question
Reference
481 c1099W;481 c1097W; 229512
Session
2007-08
Subjects
Mortgages Repossession orders
Link
View this Written question on www.publications.parliament.uk