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BUDGET 2009 NEWS: Darling to to aid mortgage market with £50bn bond guarantee

The Government will continue to aid the mortgage market with extra investments in both homeowner support and £50bn of guarantees on mortgage securities.

Speaking at today’s Budget, Chancellor Alistar Darling revealed the Government will continue to maintain mortgage support for those who have experienced a loss of earnings for another 6 months.

The Chancellor says he will also be investing another £80m into the Government’s shared equity scheme

Darling also revealed the Government will introduce a scheme to guarantee mortgage securities in an attempt to liquidise the wholesale markets. Reports suggest this aid will total £50bn in guarantees.

Darling said: “The biggest fear for people who find themselves out of work is that they might lose their homes. I want us to do more to avoid repossessions.

“We have ensured that the banks will increase mortgage availability by £20bn this year.”


Johnson Fleming is a finalist at UK Pensions Awards 2016

The UK Pensions Awards shine the light on excellence and recognise the advisers, providers and investment managers that offer the highest level of innovation, performance and service to occupational pension schemes and their members. This year’s awards looked at advisers and providers across 31 different categories and were rigorously judged by a panel of senior […]


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