Chancellor Jeremy Hunt has agreed measures with lenders aimed at helping mortgage holders struggling with high interest rates but has resisted offering Government support.
After summoning banks and building societies to Downing Street to help quell the crisis, Mr Hunt said they agreed to implementing a 12-month minimum before repossessing homes.
He also said lenders agreed to allow struggling borrowers to extend the term of their mortgages or move to an interest-only plan temporarily "no questions asked".
