Saturday, November 29, 2008

The government rescue scheme

Council selected for mortgage scheme test

"SCARBOROUGH Council is one of only two local authorities in Yorkshire and Humberside to pilot the Government's new Mortgage Rescue Scheme ... The scheme aims to help up to 6,000 of the most vulnerable households avoid the trauma of repossession over the next two years." - Just before the election. What a coincidence!

Posted by quiet guy @ 09:39 AM (777 views)
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6 thoughts on “The government rescue scheme

  • How much is council tax going to have to rise to pay for this.

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  • waiting patiently says:

    I don’t see the point in the scheme given the recent changes in the PBR. I posted this comment last night on another subject but it is equally applicable to this one:
    I believe that NULabours Pre Budget Report may have put an artificially high floor under the market. A three month moratorium on banks commencing repossessions coupled with the Welfare State paying the interest on upto a £200K loan (doubled from £100K) three months after loosing a job has bailed all but the BTL’s out. Reckless borrowing has been rewarded and Moral Hazard is back with vengeance. Why bother with payment protection insurance when the state will pick up the tab and banks will inevitably amend the mortgage terms to Interest Only.
    Don’t get me wrong. I’m all in favour of people not loosing their homes but it does annoy me somewhat that the prudent are again bailing out the reckless.

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  • Buy your own council house.
    Social rents are about half the private sector equivalent. Look at Dobson. The whole point of housing associations and social housing is that they build -more- houses, and so make them more affordable, not just moving in on existing stock. A scam for sure, but rising unemployment in 2009 will really put the spotlight on our ‘nanny’ state, because for all of your NI payments you won’t be getting any assistance back.

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  • I live in Scarborough where a new bypass has taken 3 years to complete, about 30 sets of traffic lights have also been installed around the town (Rejects from Harrogate where the scheme didn’t work), most of the council car parks have now been sold to private buyers and now a park and ride scheme that isn’t working. There’s an electronic petition of 100000+ signatures already signed due to these failures and everyone here expects council tax to rise astronomically next year due to this overspend.We have also had about 500 jobs go around the area over the last two months, Now with this mortgage scheme coming in I can mass protests coming to the town.
    PS. Scarborough has a population of 106233 according to the 2001 Census.

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  • 6,000 households rescued. Wow, that’ll make a huge difference.

    The Scarborough & Whitby constituency doesn’t really look like a swing seat. It has been solid Tory for the last 100 years, with the exception of At the last election the Tories unseated Labour 41.0% to 38.4%.

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  • Oops pressed submit too soon.
    The Scarborough & Whitby constituency doesn’t really look like a swing seat. It has been solid Tory for the last 100 years, with the exception of 1997-2005. There are better marginal seats that they could throw money at; although I suppose houses are cheap in that part of the country making it a fairly low-cost bribe.

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