Union Calls for Freeze on Repossessions

By Peter Wakeford
Published on 17 Nov 2008
AddThis Social Bookmark Button
Union Calls for Freeze on Repossessions

Halt repossessions, the government is being urged.

A leading trade union is urging Gordon Brown and Alistair Darling to introduce a freeze on repossessions in the upcoming pre-budget report. Unite claims such a move is necessary to kick-start the economy and prevent a major downturn.

The recommendation is one of ten submitted to the prime minister and the chancellor to protect the British people from the "triple danger of redundancy, repossession and rising prices". It is also calling for the creation of one million new affordable homes.

"We are calling on Gordon Brown to save our homes and do everything possible to protect our jobs," said Unite's joint general secretary Derek Simpson.

"As times get tougher, Labour must continue to command the economy and support those people most likely to suffer thanks to the greed and irresponsibility of the bankers," he added.

A recent survey by the homeless charity St Mungo's revealed that 80 percent of people in the UK feel the government should be taking more action to halt the increase in repossessions.

Figures from the Financial Services Authority show that between April and June this year, some 11,054 homes were repossessed. This represents an increase of 71 percent compared to the second quarter of 2007.

Compare mortgages via money.co.uk

Money Saving Newsletter

Already registered? Login Here

Email:

We will NOT pass your details on to any third party.

See some of the recent tips you could have benefited from.

Your privacy:

Read our privacy policy.
We are registered with the Data Protection Act (1998): No. Z6245956
details
We are regulated by the Financial Services Authority: No. 415689
details



Add Your Comment

Name: 
Comment: 
You have 1000 characters left.

Latest Mortgages Articles & News

Mortgages Articles

Long Term vs. Short Term Mortgage Deals
Long Term vs. Short Term Mortgage Deals

When it comes to selecting a fixed rate mortgage deal, should you lock-in long-term or short-term? We look at your options and weigh up the differences between the two.

What Do Low Interest Rates Mean for My Mortgage?
What Do Low Interest Rates Mean for My Mortgage?

With interest rates at a historic low, many of us will be enjoying lower mortgage payments. But what goes down must go up again, so is now the time to snap up a fixed rate bargain?

Should I Overpay on My Mortgage?
Should I Overpay on My Mortgage?

We look at whether making overpayments on your mortgage could be a good idea for you.

Should I Fix My Mortgage?
Should I Fix My Mortgage?

Amid the ups and downs of the current mortgage market it can be difficult to decide if getting a fixed rate deal on your mortgage makes sense. We weigh up the options available to you.

Nationwide Records Rise in House Prices
Nationwide Records Rise in House Prices

House prices increased by 1.2 percent during May according to the latest figures from Nationwide.

Borrowers Opting for Longer Mortgage Deals
Borrowers Opting for Longer Mortgage Deals

New figures from a mortgage brokers show that home buyers are choosing three-year or longer loan deals.

One in Ten 'Will Pay Off Mortgages Early'
One in Ten 'Will Pay Off Mortgages Early'

More than one in ten British homeowners will use prevailing market conditions to pay off their mortgage ahead of schedule, new research reveals.

Property Discounts 'Becoming Smaller'
Property Discounts 'Becoming Smaller'

A lack of availability means that there are buyers who are not able to get as large a bargain as they would have done a few months ago, according to DTZ Residential.

Popular Related Articles

Lifetime vs. Interest-Free Balance Transfer Credit Cards
Lifetime vs. Interest-Free Balance Transfer Credit CardsIs it better to transfer your credit card balance to a card that offers interest-free deal, or one that promises a low rate until your balance is paid off? We explain how to go about finding the best option for your finances.

Latest Related Headlines

Group Calls For 'Pro-Active' Action on Pensions
Group Calls For 'Pro-Active' Action on PensionsImproving public perceptions of saving would help, according to the NAPF.
RSS FeedLatest Guides
Free Services Money Saving Newsletter
The best money saving deals, freebies, rate alerts and advice emailed to you every week.
Enter your email:
Find Companies Related Guides RSS Feeds - Subscribe!
The "advice" given in our money saving tips is for information purposes only and should not be construed as "financial advice".
money.co.uk recommends you seek professional advice before proceeding with any investment or financial decision.
Site Map | Privacy Policy | About Us | Contact Us
money.co.uk is a trading name of Dot Zinc Limited, who are authorised and regulated by the Financial Services Authority. FSA Registration Number: 415689.
Copyright © www.money.co.uk / Dot Zinc Limited 2002-2009. All rights reserved.
Home | Login | Sign Up