Lib Dems call Govt's action on repossessions "pathetic"

21 September 2009 4:04 pm

Speaking at the LibDems Conference in Bournemouth today, Teather said a mere 15 people have been helped by the Government’s mortgage rescue scheme while 65,000 families are predicted to be repossessed this year and called the repossession issue a “ticking timebomb”.

Teather said too many of the Government’s initiatives are time-limited and called for the Courts to be given the power to intervene in repossession cases.

Teather said: “Unemployment is likely to continue to rise. Interest rates will not stay low for ever. This is a ticking time bomb.

”Too many of the Government’s initiatives are time-limited. We’ve got to finally reform our eighteenth century mortgage laws to give the Courts a power to intervene. It’s time the Government thought long-term, and that means beyond next May.”

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