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When everyone has a home

028 9024 5640: Housing & Debt Helpline for Northern Ireland

Repossession

The Centre for Policy Studies, a centre-right thinktank, has recommended changes to Support for Mortgage Interest to ensure that homeowners don't face repossession as a result of job losses caused by the COVID-19 pandemic. 

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Coronavirus, Repossession

The Financial Conduct Authority (FCA) has made a number of changes which will give breathing space to people struggling with consumer debt during the lockdown. These temporary measures include assistance for people with overdrafts, credit cards, motor finance packages, payday loans and "buy now pay later" arrangements.

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Coronavirus, Regulation, Repossession, Affordability

We've asked experienced housing debt adviser, Denise Callaghan, to look at some of the most important issues facing mortgage holders impacted by the coronavirus crisis. 

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Coronavirus, Repossession, Affordability

The FCA has announced a consultation on guidance for firms on the fair treatment of vulnerable consumers. This draft guidance sets out the FCA's view of what the FCA Principles require of firms to ensure that vulnerable consumers are consistently treated fairly by financial services providers. The FCA is seeking comments on the first stage of the consultation by 4 October 2019.

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Repossession, Affordability

Welfare reform continues to have a huge impact on the housing situation of low income households in Northern Ireland.  As well as advice agencies the public often approach their constituency offices for help and support with housing issues

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Benefits, Repossession, Practical tips, Welfare Reform

The Department for Work and Pensions has confirmed that the interest rate used to calculate interest due on loans for mortgage interest (LMI) has reduced from 1.7% to 1.5%. The interest rate used to calculate the amount of LMI paid to a claimant's lender remains unchanged at 2.61%. 

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Benefits, Repossession

A benefit that helps homeowners to pay the interest on their mortgage changes to a loan today.  Local charity Housing Rights is urging households who may be affected to get advice.  The charity’s helpline is already dealing with calls from homeowners who get the benefit, called Support for Mortgage Interest (SMI), who are unsure what the changes will mean for them.

Local charity Housing Rights is urging homeowners with interest only mortgages who do not have a repayment plan in place to contact them for free advice.

The call comes on the back of concerns expressed by the Financial Conduct Authority (FCA) that a significant number of interest only customers may not be able to repay the capital at the end of their mortgage.  According to the FCA nearly one in five mortgage customers have an interest only mortgage. 

Ursula Toner, Advice Services Manager with Housing Rights, commented:

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