§ Mr. FlynnTo ask the Secretary of State for Trade and Industry what initiatives he plans to assist those people threatened with the loss of their homes as a result of home equity loan plans that are no longer viable.
§ Mr. Redwood[holding answer 21 February 1992]: The Securities and Investments Board has put arrangements in place to ensure that information about problem cases is brought quickly to the attention of all bodies who may be able to help.
People in difficulties should contact the appropriate Financial Services Act regulator and also the mortgage 509W lender to discuss repayment and interest terms, and the investors compensation scheme if the investment firm has been declared in default and claims are being considered.