Tory Shadow Housing Minister Grant Shapps has warned Labour’s Mortgage Rescue Scheme "is failing" after it was revealed only two families have been helped in the first four months.
The £285 million scheme, intended to help 6,000 of ‘the most vulnerable families avoid repossession’, has provided assistance to just two families. At that rate, it will benefit only 12 homeowners over its two-year lifespan.
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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