LibDems slam govt loan failures

Published on

The Liberal Democrats have claimed that a Government-run emergency loans fund is failing to keep up with the surge in demand from families in urgent need of help due to the recession.
Figures obtained in a Parliamentary question show that over 330,000 calls to the Crisis Loan helpline went unanswered in the last year. More than two thirds of these came in the three months to May, as the rate of unemployment rose sharply.
The findings come on the back of The Social Fund’s Annual Report which found that half a million requests for crisis loans were turned down last year after an increase of more than 40% in the number of applications.
Liberal Democrat Shadow Work and Pensions Secretary, Steve Webb said: “People who apply for crisis loans are desperate and have nowhere else to turn. Too often they cannot get through or are turned away when they should be getting help.

COMMENT ON MORTGAGE SOUP

We want to hear from you!
Leave a comment and get the conversation started.
You need to register to post, so please login or sign up below.

Latest articles

The Coventry cuts selected intermediary residential fixed rates

Coventry for intermediaries has reduced a number of residential fixed-rate products for new and...

Mortgage Advice Bureau completes acquisition of Dashly

Mortgage Advice Bureau (MAB) has completed the acquisition of technology and data company Dashly,...

The Buckinghamshire lowers rates across key ranges

Buckinghamshire Building Society has cut rates across a wide spread of residential and buy-to-let...

FCA finds protection market delivering good outcomes, says TPFG

The Property Franchise Group PLC (TPFG) has responded to the publication of the Financial...

Conditional selling remains industry flashpoint as enforcement lags

Conditional selling remains one of the most persistent and contentious issues facing the UK...

Latest publication

Other news

The Coventry cuts selected intermediary residential fixed rates

Coventry for intermediaries has reduced a number of residential fixed-rate products for new and...

Mortgage Advice Bureau completes acquisition of Dashly

Mortgage Advice Bureau (MAB) has completed the acquisition of technology and data company Dashly,...

The Buckinghamshire lowers rates across key ranges

Buckinghamshire Building Society has cut rates across a wide spread of residential and buy-to-let...