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the end is a bit nigher

Mortgage Approval Scheme

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I was speaking to an ex-colleague last night who is working on a project that provides application support for the government's home-owner bailout scheme.

They described the scheme as 'collapsing' and mentioned they had a book on the number of take-ups there would be across mortgages valued around £50bn. The take-up estimates currently range between 1 and 8.

Yet more Labour spin and no substance.

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Flicking thru the details of these schemes it seems people dont what to take the government up on it because:

1. They dont want to borrow more money

2. They dont want to rent their former own home as a rental from the government

So lack of desparation and no desire to feel humilated might be why so few are using the schemes??

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Yes, this is for the buying scheme. The one I am referring to is the one that allows you to defer your mortgage payments for 2 years. The one that currently has a take up of one. The one that Brown announced without telling the lenders first.

Ah yes sorry somewhat distracted this morning, staying with daughter tiny baby with colic toddler ill existing on only a few hours sleep , limited computer access and BULLS galore rampaging through threads. Sure I am not the only one on here trying to get to grips with what is happening in the market with no particular VI in prices going up or down beyond what is best for the whole, for the economy , what is sustainable etc and just so tired of this constant ramping seemingly devoid of facts and today even saying that ANYTHING that says prices have fallen IS ALL LIES.

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Guest sillybear2

Yup, and Labour were using this scheme to attack the Tories in their party political broadcast, "David Cameron would cut support for families under real pressure because of this recession and who need to defer interest payments so they don’t lose their homes.", whilst NuLabour has managed to help just TWO families :lol:

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Guest sillybear2
Flicking thru the details of these schemes it seems people dont what to take the government up on it because:

1. They dont want to borrow more money

2. They dont want to rent their former own home as a rental from the government

So lack of desparation and no desire to feel humilated might be why so few are using the schemes??

It's simply putting off the day, rather than helping people it might just mire them deeper into negative equity.

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