Mortgage scheme comes to the rescue of owners

19 Nov 09
Seventy-four households that were struggling to pay their mortgages agreed to sell their properties to housing associations and become tenants in the third quarter of 2009, figures have shown
Seventy-four households that were struggling to pay their mortgages agreed to sell their properties to housing associations and become tenants in the third quarter of 2009, figures have shown.

This takes the total assisted through the mortgage rescue scheme since its launch in January to 92.

More than 500 families are going through the assessment process with councils, while almost 100 are being assessed by a central team set up by the government three months ago to speed up applications.

The latest figures were announced on November 12, at the same time as the Council of Mortgage Lenders revealed that 11,700 homes were repossessed in the three months to September – up 300 on the previous quarter but down 1,000 on the first quarter of this year.

Did you enjoy this article?

AddToAny

Top