In response to the FCA's review into arrears management Paul Winter, Chief Executive, Ipswich Building Society, comments:
"It's pleasing to see that the level of arrears in the building society sector is under two-thirds of the level in the mortgage market as a whole. This echoes the positive direction we've seen at Ipswich Building Society; we have achieved consistently low levels of arrears over recent years and in 2013 saw these reduce by a further 20%. We have a dedicated and highly skilled arrears team. They work with members in financial difficulty, offering a dedicated programme to suit the borrowers needs and situation, such as budgeting, access to support from money advice agencies and where appropriate flexible payment solutions, to help them get back on track."