Vernon Building Society has signed up to the Mortgage Charter announced by Chancellor Jeremy Hunt.
The charter was created to support borrowers struggling with their mortgage payments, and comprises a set of standards lenders will adopt when helping borrowers worried about higher rates.
Steve Fletcher (pictured), chief executive of Vernon Building Society, said: “Vernon already provides tailored support to our members struggling with their mortgage now or worried about meeting their payments in the future.
“We’re happy to sign up to the new Mortgage Charter which puts into place a set of measures to support borrowers as we go through this difficult period.”
He added: “If any of our members are worried about their finances, they should call us as soon as possible to see what options are available.
“As always, we’ll do everything we can to support them.”
So far, lenders covering over 85% of the residential mortgage market have signed up to the charter, with the measures expected to take effect in the coming weeks.
