Financial Advice on Repossessions: Liberal Democrats
Published / Last Updated on 10/03/2008
Financial Advice on Repossessions: Liberal Democrats
Financial advice on repossessions has been promised by Nick Clegg, Liberal Democrats leader.
Clegg has promised to make financial advice compulsory when repossession claims are issued. He insists the advice would have to be independent, provided by the Citizens Advice Bureau or Independent Financial Advisers, but has not confirmed who would foot the bill.
He also said that banks should agree practices to prevent large-scale repossessions, such as “allowing those in arrears because of circumstances beyond their control to move to shared ownership arrangements”.
Our view
Financial Advice on Repossessions is a great idea from the Liberal Democrats. Alas, they will not be elected.
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