Six households get mortgage help in бё200m govt scheme

Fri 3 Jul 2009 - Published in Mortgages

Only six households have benefited from the government's Mortgage Rescue Scheme which aims to help vulnerable homeowners from losing their properties.

Despite 150 applying for the aid, Communities and Local Government said only six have been successful since the scheme opened in January this year.

However, Bernard Clarke, communications manager at the Council of Mortgage Lenders, said take-up was expected to be slow to start with.

"There are lots of individual factors that need to be taken into account to determine whether or not mortgage rescue is the right option for a borrower in difficulty," he added.

The expert said only borrowing in a "fairly narrow range" of situations will be eligible, adding that there are other options for people who are refused by the scheme.

When it was launched on January 16th this year, the ё200 million programme was intended to help 6,000 households over the next two years.

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