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The Prime Minister has revealed new plans to help those struggling to pay their mortgage.

After the Queen’s speech to open Parliament, Gordon Brown revealed plans to help those who are out of work with their mortgage interest repayments.

No real details have been published as yet, but if you are made redundant and cannot pay your mortgage, you could have as much as two years to find another job and get back on your feet.

This is great news, as the CBI has predicted that unemployment could top three million in the UK in 2009, as well as the Council of Mortgage Lenders predicting as many as 75,000 in arrears in 2009.

So if you are made redundant, there is hope. But what about those who are working and still cannot make ends meet? People with rising mortgage rates and rising debt – who is going to help them?

There are other Government initiatives to help the indebted mortgage borrower, but the best place to start is a mortgage adviser. They will be able to tell you where you stand financially, what you could do and what your limitations are.

There is no point sticking your head in the sand or waiting for the Government to save you, if you are having trouble with your mortgage, or you are already in arrears, you have to act now. Talk to an adviser and prepare to make your finances do what you want them to do for once.

To Keep up with news and comments on the current adverse credit market please visit the Adverse Mortgage Blog.