Brown promises homeowner aid

05/01/2009

More help for homeowners will be given by the government, Gordon Brown has said.

In an interview with the Observer newspaper, the prime minister promised that the government would do "everything in our power to stop repossessions".

Later, it was announced that the number of people who qualify for state help with their mortgage payments will be expanded under new plans.

The waiting period for the aid is also to be slashed, the Press Association reports.

It is hoped that this extra assistance will then lead to a lessening of repossessions numbers.

The prime minister also defended himself against accusations that, as chancellor of the exchequer, he helped to inflate the UK's housing bubble prior to the onset of the credit crunch.

Mr Brown commented: "We have to look at this in historical perspective… The demand for home ownership has been growing radically and we wanted to help meet that demand for home ownership.

"There's more than one million new homeowners [created] in the last few years."

Tags; Housing Debt and Bills, Young Family Finances,

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