§ Mr. SoleyTo ask the Secretary of State for the Environment what further action he intends to take to assist home owners facing repossession who are in difficulties meeting their mortgage payments.
§ Sir George YoungAll mortgage borrowers will have been helped by the 5 per cent. reduction in base rates since October 1990.
The Government agreed a package of measures to help borrowers at risk of repossession with the Council of Mortgage Lenders in December 1991. We reviewed progress on that package with CML members on 2 June. They estimate that measures taken since December will save some 55,000 repossessions this year, and that the number of homes repossessed this year will fall.