mortgage online- Govt will launch one stop finance shop
Mortgage : The government is to announce a new initiative to give people free financial advice.
Its Financial Capability Action Plan hopes to expand The Financial Services’ Authority’s Moneymadeclear website and helpline, begin a £12 million programme to deliver free financial advice and support personal finance lessons in schools.
Launching the Action Plan, chief secretary to the Treasury Yvette Cooper, said: “We need to make it much easier for people to get access to information, help and advice,”
She added that the government wants to create a system of ongoing advice for citizens throughout their lives.
Personal debt is currently rising. The Citizens Advice Bureau has advised consumers with mortgage debts they have several options.
Debtors can try to reduce monthly payments, increase the duration of their loan, suspend payments or find a new deal.
It warned: “Before you agree to make any changes to your mortgage, you should ask your lender if there will be any charge for this, such as a redemption or administration charge.”
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