Tory-controlled Wokingham Borough Council urged by Lib-Dems to launch a Mortgage Rescue Scheme
October 31, 2008 12:00 PM
With fears that the credit crunch will hit many Wokingham borough residents, leading to house repossessions and homelessness, Wokingham Liberal Democrats are urging the Tory Executive at Wokingham Borough Council urgently to consider bringing in a mortgage rescue scheme to help residents stay in their homes.
Councillor Stephen Conway (Deputy Leader of Wokingham Borough Liberal Democrat Councillor Group and councillor for Twyford ward) said, "We know that many residents are struggling to make their mortgage repayments and fear they will lose their homes. The Council may well see an increase in the number of homeless people as a result, which will put extra strain on council finances.
"I will be asking the Tory Executive at Wokingham Borough Council at the Council meeting on 30th October urgently to come up with a mortgage rescue plan to help those people who are struggling in the current credit crunch.
"When the Council operated a mortgage rescue scheme in the 1990s, it avoided huge bills for finding accommodation for the homeless and helped people to stay in their own homes. This is a clear case of both investing money in our residents now to save in the future and helping people avoid all the trauma of repossession."
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