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Expert highlights need to help those struggling with mortgages

June 7, 2008 by admin  
Filed under News, News-Mortgages

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Helping homeowners who are struggling with mortgage repayments is one of the key housing issues in Northern Ireland, according to an industry expert.

Trevor James, who is due to take over the chairmanship of the Council of Mortgage Lenders (CML) Northern Ireland, told delegates at the CML annual lunch last week that helping people who are having difficulty with mortgage payments is one of the most important financial issues at the moment.

He also cited housing affordability as an area that he was planning to work on with the Department of Social Development.

Mr James said: “Whilst affordability remains the biggest issue, helping those people that are having difficulty with mortgage payments remain in their homes is perhaps of equal importance.”

Earlier this week, a financial expert urged homebuyers to “drive a hard bargain” when putting in an offer on a home.

David Kuo, head of personal finance at financial website Fool.co.uk, told homebuyers that house prices are predicted to fall by 20 per cent this year and this puts buyers in a “strong position” to negotiate on price.

Tags: business, Mortgages, council of mortgage lenders, position, Department, expert, price, mortgage help

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