Nearly 140,000 Scots are at risk to lose their homes, thanks to the current housing crisis. However, the FSA is doing their best to provide mortgages advice and help people hang on to their homes. FSA director of financial capability Chris Pond said: “Economic conditions are getting tougher, putting pressure on family finances. As the UK’s financial watchdog, we can help. Our new checklist sets out simple steps that homeowners can take to manage their money and mortgage in difficult times. And for those who are really struggling, don’t panic. Talk to your lender or get free, confidential debt advice.”Lesley Campbell, with the Record Reader’s Champion doesn’t think this will be enough, although mortgages advice for consumers is always welcomed. Campbell stated, “The industry would like us to believe it has its house in order so we take on bigger loans. It’s a forlorn hope in the current market. However, confidence might be restored if the lenders removed their rose-tinted glasses and took responsibility for problems they caused. Overall, it would be good to see lenders pay the penalty for their greed. But business rarely works as neatly as that. First to suffer will be homeowners.”
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