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‘Feels like I'm doing it on my own’: Examining the Synchronicity between Policy Responses and the Circumstances and Experiences of Mortgage Borrowers in Arrears

Published online by Cambridge University Press:  06 December 2011

Alison Wallace
Alison Wallace*
Affiliation:
Centre for Housing Policy, University of York E-mail: [email protected]
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Abstract

The previous administration introduced several measures to prevent mortgage possessions, some of which were modestly effective. However, these hastily introduced initiatives were insufficient to bridge the gap between a fragmented policy framework and borrowers’ circumstances and experiences of managing mortgage debt. The present restructuring of welfare and regulation represents a unique window to address these long-standing policy omissions in relation to sustainable homeownership in the UK. However, in the context of weakening state support, it is uncertain how or indeed whether, the opportunity to reform mortgage safety nets will be grasped. This article reflects upon the continuing misalignment of policy with borrowers’ circumstances and experiences of mortgage arrears using new evidence from this downturn.

Keywords

Debthomeownershipregulationmortgagearrears
Type
Themed Section on Household Finances under Pressure: What is the Role of Social Policy?
Information
Social Policy and Society , Volume 11 , Issue 1 , January 2012 , pp. 117 - 129
Copyright
Copyright © Cambridge University Press 2011

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