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Bbc - Mortgage Rescue Scheme Funding Cut

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BBC reporting that the government is going to cut funding for the Mortgage Rescue Scheme, which helps householders to avoid repossession. Initially I thought 'this is what we've been waiting for', but then when you look at the uptake figures (only 629 households so far), it probably hasn't had much of an impact. Still, every little helps ...

Government funding for a scheme aimed at helping those facing home repossessions in England is to be cut, the housing minister has announced.

Grant Shapps said that the government grant for the Mortgage Rescue Scheme would be reduced.

The scheme allows people to sell their property to a local authority or housing association and remain in it as a tenant.

He said reducing the deficit to keep interest rates low was more effective

Interesting at the end there, more evidence that they want to kep IRs low.

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  • 399 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?

      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%

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