Mortgage rescue scheme “failing” homeowners

This lack of help comes despite the fact that, in the last month alone, more than 1,000 homeowners approached local authorities with difficulties paying their mortgage.

Grant Shapps said, “This is typical of the Labour Government’s approach: they promise big and deliver very little. They should spend less time making up headlines and more time helping hard-pressed families through the recession.”

And he stressed, “Ministers promised (the Mortgage Rescue Scheme) would offer ‘real help now’ to homeowners living with the threat of repossession. Gordon Brown should now try telling that to the thousands of families being frozen out of this scheme and losing their homes as a result.”

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2 thoughts on “Mortgage rescue scheme “failing” homeowners

  1. clare

    They promised something that was fairly hard to meet, it took too long to come into force which is why so many people feel let down by the situation and as you rightly point out at the rate they are going helping 12 families is not really helping the masses. There are a lot of people that have worked hard to buy property and because something goes wrong they need that support and backing. Hopefully the government will learn from this and make the system easier to help people when they need it. I think it comes down to good decision and planning on both the government and the home owner, the government should have seen these issues and being a homeowner you should have a back up plan to keep your investment safe for 6 months.

  2. m johnston

    I applied yesterday and was told that as i havent got a repossesion order (although i have has 3 suspended repossesion orders) i wont get it. he said to come in and apply again if my mortgage comany get a full possession order which is usually 28 days he said they can extend that to 56 days but he as good as admitted its useless though as he says it takes 3-3.5 months to process the scheme. He advised me that the best they can hope to try in helping me was to get the interest waived for 2 years so im gonna go for that as im on an interest only mortgage anyways and that gives me 2 years to catch up with my arrears.

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