RICS: Government framework to protect homeowners

Commenting on the governments' announcement on the framework to protect homeowners, James Rowlands RICS policy officer said: "With repossessions likely to total over 40,000 this year, these steps by the Government are essential to help the most vulnerable households avoid the trauma of losing their homes. The first stage of this process must involve greater flexibility from lenders for people who fall behind on their mortgage payments. For the most serious cases the Government should push ahead with proposals for housing associations to buy a share in people's homes to help families who can no longer afford their mortgage payments.

The proposals on sale and rent back schemes are welcome but would be better as part of a joined up approach to property regulation and combined with wider changes to how the home buying process is regulated."