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<p>Mortgage arrears levels remain historically low. According to the latest UK Finance
data, there were 74,560 residential mortgages in arrears at the end of June, 10% fewer
than in the same period in the previous year.</p><p> </p><p>If mortgage borrowers
do fall into financial difficulty, Financial Conduct Authority (FCA) guidance requires
firms to provide support through tailored forbearance options. The Government has
taken a number of measures aimed at helping people to avoid repossession, including
Support for Mortgage Interest loans for those in receipt of an income-related benefit,
and protection in the courts through the Pre-Action Protocol, which makes it clear
that repossession must always be the last resort for lenders.</p><p> </p><p>Whilst
the setting of rents and the payment of mortgages are matters for private landlords,
ensuring a fair deal for renters remains a priority for this government.</p><p> </p><p>The
Government has already taken immediate action to help households with the rising cost
of living through the Energy Price Guarantee and the Energy Bills Support Scheme.
This is in addition to the £37 billion of targeted support for the cost of living
this financial year, which will support homeowners and tenants alike. The Government
has also announced an extra £500 million of local support in England via the Household
Support Fund (bringing the total amount provided to £1.5 billion since October 2021).</p>
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