Tuesday, December 22, 2009

Remember this ol’ Brown chestnut?…

Cost of Government scheme to avoid repossession is £165,000 per household

"The Homeowner Mortgage Support Scheme was announced in a big fanfare a year ago to help struggling borrowers stay in their homes, but has ended up helping just 15 families so far. The Government confirmed today that the scheme has cost the taxpayer £2.5 million. With the average price of home £165,000, experts suggested the Government may have just have bought the homes outright for the 15 families it had helped. Housing minister Grant Shapps said: “These figures will be a slap in the face for the 1,000 families who are being repossessed every week.Increasing numbers of home owners are falling behind on their mortgage payments, with almost 270,000 at least three months in arrears at the end of September this year, compared to 166,000 during the same period a year earlier"

Posted by cat and canary @ 02:14 PM (1222 views)
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2 thoughts on “Remember this ol’ Brown chestnut?…

  • cat and canary says:

    …we need a new term “Done a Browny” to denote when a politician invents a new idiotic policy, which intially suceeds in grabbing headlines, but then later fails and wastes a load of money 🙂

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  • mark wadsworth says:

    Housing minister Mark Wadsworth said: “These figures will be a slap in the face for the millions of the priced-out generation who have to scrimp and save in the vague hope of one day being able to overpay for a measly rabbit hutch or flat while those who have jumped on the ladder are cosseted and protected merely because they belong to the Inner Circle – the homeowners”

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