Mr Brown announced that the government would provide a guarantee, allowing homeowners who have been made redundant or have lost significant income to defer some of their mortgage interest payments for up to two years.
HBOS, Nationwide, Abbey, Lloyds TSB, Northern Rock, Barclays, RBS and HSBC have agreed to sign up to the scheme.
In response to a question from Sarah Teather MP, the Prime Minister recognised the power of the campaigners, saying: "We are taking measures to protect exactly the people about whom Shelter is talking.
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"We are providing a new scheme which not only allows mortgage repossessions to be postponed for six months but lets people recapitalise their mortgage, supported by a Government guarantee, if they are in difficulty.
"That is exactly what Shelter and other organisations want us to do."
Shelter Chief Executive Adam Sampson welcomed the announcement, and said: "This is great news for many thousands of homeowners struggling to keep a roof over their head this Christmas, and the millions more who fear what might happen if they lose their jobs.
"We look forward to seeing the full detail of these proposals and how they will help people to stay in their homes.
"We echo Gordon Brown’s call to all lenders, in particular sub-prime lenders, to sign up to this commitment, which is the first step in making sure that the 75,000 households expected to be repossessed next year is a prediction rather than a reality."
(CD/JM)
