Restructuring solutions exist, which enable the borrower to use their equity to support the resolution of their arrears whilst keeping them in their home, if staying in their home is a key objective for the borrower.
Greater collaboration is needed in seeking system-wide solutions for the deepest levels of distress: One of our research papers today suggests that the income levels of approximately 20% of LTMA borrowers are so low, that they cannot make any repayments whatsoever, once reasonable non-housing living expenses are accounted for.