Treasury launches advice package

Published: May 09, 2008

The UK Treasury has launched a multimillion-pound package to help borrowers who may be facing financial difficulties.

Although very few people are in a difficult situation, the government has decided to launch the package to help the few who are.

It is undeniable that the global credit crunch has caused problems for some, with mortgage interest rates rising in places.

The Treasury is to invest in making debt advice more easily available so that any worried borrowers can seek some advice and get themselves back on track.

"It is clear from speaking to consumer groups and the mortgage industry that borrowers may be concerned about the impact of the current market conditions on their mortgages," said Alistair Darling.

"That is why it is vital that the government, working with industry, offers as much support as possible both directly to those people and to the consumer advice groups who can help them in their day-to-day lives," he continued.