Llanelli AM welcomes ‘closer relationship’ call by Housing Minister

Llanelli AM Keith Davies has today welcomed a call by Huw Lewis, Welsh Housing Minister for Lenders to work with advice providers to avoid mortgage repossessions.

Although the numbers of homeowners losing their homes has fallen, the Council of Mortgage Lenders issued a warning earlier this year that there will be ‘a higher number of people facing more serious problems in 2012’.

In his speech on Monday 5th March, Huw Lewis said that identifying those in need as early as possible was crucial in preventing repossession against cuts by the UK Government that will has already resulted in the maximum rate for Support for Mortgage Interest being cut.

Last month, Keith Davies AM held a money advice event at the St. Elli Centre. He said:

“It is very important that, if you realise there are problems financially, you seek advice and support to balance the budget. Whilst it is good to hear that generally the numbers of repossessions is falling, the process of losing one’s home can have devastating consequences.

“Last month, the Money Advice Service attended my money and skills event in Llanelli. Itoffers a wide range of services that can help individuals and families get their finances back on track. It is there for you no matter how much you earn, and it’s completely free of charge”.

Lee Philips of the Money Advice Service said:

“If you, or someone you know, is concerned about meeting future mortgage payments get in touch with the Money Advice Service today to understand your choices. We have lots of free impartial advice online at www.moneyadviceservice.org.uk – such as top tips to help you act now before it’s too late – and our telephone Money Advisers can help on 0300 500 5000.

“Alternatively you can also make an appointment to see someone face to face. Whether you are based in Llanelli or elsewhere in Wales or the UK, we can discuss any question you may have about your options. Please don’t struggle in silence – our Money Advisers can help.”

Picture: Keith Davies AM is pictured with Lee Philips and other members of the Money Advice Service and Nia Griffith MP at the recent Money and Skills Advice Day at the St. Elli Centre.