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Well Done Gordon

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Another shambles. Mortgage Rescue Scheme that 'rescues' 2 families in four months. It can take up to 5 months to process an application say the authorities.

What a f***ing joke!

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Another shambles. Mortgage Rescue Scheme that 'rescues' 2 families in four months. It can take up to 5 months to process an application say the authorities.

All the more comedic (in a somewhat depressing way) when you consider how quickly the poor ******* could take out their "fast track" loans.

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The cost of the fund is £285m and is expected to help up to 6,000 people. The fund is managed by your local Authority so no doubt only Labour Councils will benefit.

The maximum payout is £5,000

So I have done a couple of calculations. £285m shared between 6,000 people works out at £47,500 per applicant, yet they can only claim a maximum of £5,000

So this fund is costing £42,500 per successful aplicant to administer.

So another job creation scheme at our local councils, and no doubt the local taxpayer will be asked to pay this bill as well.

The Labour Party are the scum of the earth........................roll on the elections.

Take a look at this and weep!!!

http://www.communities.gov.uk/housing/buyi...tgagerescuefaq/

Edited by laurejon

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The cost of the fund is £285m and is expected to help up to 6,000 people. The fund is managed by your local Authority so no doubt only Labour Councils will benefit.

The maximum payout is £5,000

So I have done a couple of calculations. £285m shared between 6,000 people works out at £47,500 per applicant, yet they can only claim a maximum of £5,000

So this fund is costing £42,500 per successful aplicant to administer.

So another job creation scheme at our local councils, and no doubt the local taxpayer will be asked to pay this bill as well.

The Labour Party are the scum of the earth........................roll on the elections.

Take a look at this and weep!!!

http://www.communities.gov.uk/housing/buyi...tgagerescuefaq/

I'm pretty sure the £5,000 limit is only for the Repossession Prevention loan bit of the scheme

Who can access the Repossessions Prevention Fund, and what is it likely to be used for?

The Fund will be available to anyone threatened with homelessness either through repossession or eviction. For example, it could be used to clear mortgage or second charge arrears in appropriate cases, where this would prevent repossessions.

The maximum loan is £5,000 and is conditional on the household seeking money advice with CAB or other money advice agencies that are used by the Council. The principle would be that these loans are not made available unless the home-owner or tenant had acted on money advice and were able to meet any existing or newly negotiated monthly repayments.

the other part of the scheme, "mortgage rescue" involves actually buying up the house and will cost a lot more

these schemes haven't really worked in the past becasue the rent that comes out of the formula ends up being unaffordable

Edited by newdman

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I'm pretty sure the £5,000 limit is only for the Repossession Prevention loan bit of the scheme

the other part of the scheme, "mortgage rescue" involves actually buying up the house and will cost a lot more

these schemes haven't really worked in the past becasue the rent that comes out of the formula ends up being unaffordable

good scheme...a loan to prevent another loan from finishing you off.

This is 100% against serious advice to debtors in GC1.

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Gordon STILLBORN Brown. He has not had an idea in 3 years that has gained any traction.

Also, WHERE THE HELL IS HE? Seriously, is he in "under the doctor"?

that would be nice, one cut and his problems are over.

We however, have to struggle on.

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Gordon STILLBORN Brown. He has not had an idea in 3 years that has gained any traction.

Also, WHERE THE HELL IS HE? Seriously, is he in "under the doctor"?

His advisor's have asked him to keep out of the limelight to give labour a chance of getting say 10 or 20 votes in the European elections

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that would be nice, one cut and his problems are over.

We however, have to struggle on.

wasnt there the news recently that 200000 people had taken up mortgage interest relief against unemployment .. does it matter which scheme they choose as long as their payments are met ?

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