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Robyn Hall
Just Retirement is going on the road over the next few months. This seminar is in London.
Area Sales Manager - Financial Services - London
North London
Mortgage Consultant / Mortgage Adviser - Fulham
South London
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Banks support customers in difficulty
7 August, 2008
Banks are acting to support mortgage customers who are finding it difficult to meet their monthly repayments, according to the British Bankers’ Association.
High street banks provide two-thirds of all home loans and, in contrast to other lenders - where the FSA has calculated an increase in repossessions of over 40% - saw their figures rise over the same period by only 6.6%.
Chief executive of the BBA, Angela Knight, said: "Home repossession is absolutely the last resort for banks. Our high street lenders are actively helping more people stay in their homes in these difficult times. We recognise that, with rising food and fuel costs, people may be finding money more difficult to manage and we urge anyone who is worried about meeting monthly mortgage payments to get in touch with their lender as quickly as possible. The problem won't go away on its own but banks are well placed to help customers plan their finances to keep the whole show on the road."
The BBA said it was pleased the FSA had been careful to distinguish mainstream lenders from those specialists responsible for much of the increase in repossessions.
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