The finance and banking industry trade body UK Finance has announced the launch of a brand new campaign intended to increase awareness among borrowers of the support options that are out there for them.
This campaign is being called ‘Reach Out’ because UK Finance wants to persuade those who are finding it difficult to cope with mortgage repayments to talk to their lenders about it. The number of people who now find themselves in that position has increased significantly over the past year, due to spiralling inflation levels and living costs.
It will be a multimedia campaign, promoted through advertisements on television, over the internet, in print and on the radio, among other areas. The aim is to make sure that it connects with the maximum number of borrowers possible. A number of major mortgage lenders have lent their backing to the campaign, which UK Finance has teamed up with the M&C Saatchi London advertising agency on.
Speaking to Mortgage Introducer, the UK Finance chief executive David Postings stated:
“Lenders are ready to provide support even if a customer’s payments are up to date – if you’re struggling with your mortgage, or think that you will struggle – ‘Reach Out’ to find out the options available for help.”
More than 200,000 people with mortgages in the UK needed help from lenders last year and that figure is likely to grow.
Mortgage advisors who have a CeMAP qualification can be a useful go-between in discussions between borrowers who are in a vulnerable position and lenders.
