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garybug

Government's Mortgage To Rent Scheme Useless

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Linky: http://www.theherald.co.uk/news/news/displ...iddle_class.php

"The criteria for the flagship Mortgage to Rent scheme was changed three months ago in an attempt to provide help to people who are in danger of having their homes repossessed amid rising unemployment.But the initiative has faced criticism for failing to help white-collar, middle-class earners have been most damaged by the downturn in the economy - with many of them unable to cover their mortgage costs because of the scheme's £100,000 ceiling on what a property is worth."

"In East Renfrewshire, the fund will only bail out those whose three bedroom houses were valued at £105,000, despite the average price for this type of house being £206,000." :ph34r:

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