Friday, May 01, 2009
That's £200 million per family
Express: £200m mortgage rescue scheme helps just one household
A LABOUR scheme to help vulnerable families avoid losing their home is today exposed as a sham.
Only one household has been helped by the £200million Mortgage Rescue Scheme since it was launched in January.
The scheme aims to prevent the most vulnerable people from having their home repossessed by enabling them to sell all or part of their property to a registered social landlord.
When launched, it was meant to help 6,000 families over two years. At the current rate just eight households would benefit in that time.
Posted by little professor @ 12:54 AM (627 views) Add Comment
7 Comments
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1. Leftukforgood said...
if it costs 200 million even if it helped 6000 thats over 33,000 pounds per person it helped !!!!!!
typical labour in 70's they had a scheme to get maths teachers i was paid tax free double my
previous salary (which was above average) and like most just went back to our old jobs it
was reported it cost over 1 million pounds for each new teacher
Labour will always throw away your tax money
2. Leftukforgood said...
even if 6000 are helped thats over 33,000 each
3. alan said...
George Dubya introduced the Hope Now Alliance to help those about to foreclose. About 6 months later there were howls of protest as it didn't work properly.
We seem to have a problem with our scheme too!
4. tyrellcorporation said...
GB and Yvette Cooper will see this as a success citing that if it saved one 'hard-working family' from repossession then it was worth it.
5. str 2007 said...
The scheme to help people involves selling their house to a 'social registered' landlord.
The landlord that has effectively pushed up prices so high he's got these people into this trouble in the first place.
Tell me I've misread the headline.
No don't tell me, the landlord lets them rent at a lower price than his interest only mortgage on the property. No he doesn't does he otherwise he wouldn't be in business.
So if you want to HELP someone why don't you give them the low interest only mortgage direct and cut out the middle man ?
This whole thing is a sham.
I hope general public saw through this and why only 1 person took advantage (or should be was taken advantage of) by the scheme.
6. little professor said...
str2007 - the registered social landlords are local councils or housing associations, rather than private BTL leeches.
7. str 2007 said...
LP I'll stand corrected then, but registered social landlords sounds like the kind of thing you 'as a loandlord' ( I was going to correct that typo but I quite like it - Loandlord) could apply to be and get the rent paid to you directly by the local authoiry/social.
If I'm right and that is the case you can bet your bottom dollar btl landlords will be at it and running rings around the local authority people who are just desperate to house people.