Tag: Mortgage Rescue Scheme

Mortgage rescue scheme criticised by NAO

Mortgage rescue scheme criticised by NAO

The Mortgage Rescue Scheme has been criticised by the National Audit Office (NAO) for missing targets. The Scheme was established by the Labour Government in late 2008 to help struggling homeowners in England facing repossession and allowed people to sell their property to a local authority or housing association but stay on as a tenant. [...]

May 25, 2011 | 0 Comments More
Mortgage Rescue Scheme under threat

Mortgage Rescue Scheme under threat

The Government is to reduce funding for the Mortgage Rescue Scheme, the BBC has reported. The scheme was set up in 2009 to help vulnerable homeowners in England facing repossession, by offering the following options. Government Mortgage to Rent is available to households on low incomes, with little chance of sustaining a mortgage, and involves [...]

July 20, 2010 | 0 Comments More
Government adverts for those on the brink of repossession

Government adverts for those on the brink of repossession

The Government is to target areas of England with high levels of repossession with a new advertising campaign, the BBC has reported. Hotspots include: Barking and Dagenham, Corby, Knowsley, Salford, Newham, Walsall, Redditch, Halton, Sandwell, Wolverhampton, Bolton, Reading, Swindon, Northampton, and Cannock Chase. Nottingham, Birmingham, Manchester, Liverpool, Sunderland, Wigan, and Kingston-upon-Hull are some of the [...]

September 8, 2009 | 0 Comments More
Mortgage Rescue Scheme saves six homes

Mortgage Rescue Scheme saves six homes

Only six families have been helped by the government’s Mortgage Rescue Scheme, housing minister John Healey admitted yesterday. Set up in January, the £200 million initiative aims to help vulnerable families at risk of having their home repossessed. Participants in the scheme can choose to have their home bought by the local authorities then rented [...]

July 1, 2009 | 0 Comments More
Mortgage Rescue Scheme helps only two households

Mortgage Rescue Scheme helps only two households

A Government scheme to aid families in England under threat of repossession has helped only two households since its launch in January. According to the Department for Communities and Local Government (DCLG), the £285 million package of measures is “designed to prevent some of the most vulnerable families losing their homes and experiencing the trauma [...]

June 3, 2009 | 0 Comments More