» Friday, May 9, 2008
Economy
Asked for the Prime Minister’s view on the rise in mortgage costs and house repossessions, the PMS replied that the Government’s view was set out by Caroline Flint in terms of what we were doing in order to help people who were finding it difficult to meet their mortgage costs at the moment. Repossession rates remained at around one third of the rate that we saw in the early 1990s, but the Government did want to make sure that everything was being done to help households so that repossession was only ever a last resort - hence the announcements that were made this morning by Caroline Flint and Alistair Darling.
Put that in some areas the rates were much higher, 49% in Oldham for example, the PMS replied that on specifics it was best to speak to the Treasury or DCLG. But in aggregate, the rates we were seeing at the moment remained at around one third of the rate we saw in the early 1990s.
Briefing took place at 11:00 | Search for related news
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