Dr Kim Howells Minister of Consumer Affairs is to "chair" a consumer affairs task force looking at the problem of consumer debt. I believe that mortgage shortfall should be included in this. If you agree please bring it to the attention of the DTI and ask that the problem of mortgage shortfalls and the practise of lenders selling below market value be looked into during these meetings. Please take this opportunity to get involved. If enough of us make a noise about this we might get something done.

Thanks Sue Gates

-- Sue Gates (sue.gates@ntlworld.com), October 30, 2000

Answers

No sooner said than done Sue!

-- jacky jones (jackycolin.jones@virgin.net), October 30, 2000.

This is a very good point. Kim Howells has already entertained the Council of Mortgage Lenders - no prizes for guessing whose interests the CML have been promoting. It would be useful if Kim Howells were encouraged to communicate with the Treasury as well as the DTI over this, as all these departments have regulatory connections with mortgage lenders in some capacity. Apparently something like 7 billion pounds worth of alleged mortgage shortfall 'debt' exists on paper in the UK - so if Kim Howells wants to work out why each family in this country is in debt, on average, to the tune of six grand, and wants to know why Citizens' Advice Bureaux are clogged up to the rafters with mortgage shortfall cases, then he just needs to look at the lenders' incompetence and avarice to see where this is coming from.

-- Eleanor Scott (eleanor.scott@btinternet.com), October 31, 2000.