View more on these topics

Govt’s mortgage rescue scheme has only helped one household

Only one household has been helped by the Government’s Mortgage Rescue Scheme since it launched in January.

The £200m package aims to prevent vulnerable families from losing their homes and consists of a shared equity scheme and a Government mortgage to rent scheme.

Liberal Democrat shadow housing minister Sarah Teather says: “Tens of thousands of families will face the misery of repossession and homelessness this year but the Government’s scheme has helped just one household.

“This is an appalling failure by a Government that is more interested in headline-grabbing than in helping families through the economic crisis.”

A spokesman for Communities and Local Government said: “The Mortgage Rescue scheme, which is aimed at the most vulnerable households, has made a successful start and is one part of a comprehensive package of measures to help households at risk of repossession.

“As the statistics show, over 450 households were actively being considered for this support between January and March. We always said it would take at least three months for a household to complete the mortgage rescue process from the time they approach a local authority, and overall we expect the scheme could help up to 6,000 households over the next two years.

“Thanks to this scheme more households have sought and received financial advice as well as guidance as to what support may be best for their circumstances.”


Britain is heading for a 90bn hole, says IFS

Lost tax revenues and higher social security costs will leave a 90 billion hole in the state finances, according to the Institute for Fiscal Studies (IFS). The independent research organisation says the Treasury forecasts imply that the crisis has dealt a permanent hit to Alistair Darling of about 6.5% of national income. Gemma Tetlow, a […]

More declines in property sector

Investors feeling optimistic about a recovery in the property market will be disappointed by the latest property stock figures from Standard & Poor’s Index Services. The firm said that developed world property stocks continued to fall in the first three months of 2009. The S&P Global Property index fell by 19.81%, while the Developed Property […]

Health - thumbnail

Healthcare predictions for 2015 from Jelf Employee Benefits

The continuing fall-out from the Competition and Markets Authority’s (CMA’s) review, the rise of the private GP and digital engagement will be the primary focuses in the private healthcare industry during 2015, according to Iain Laws, managing director, healthcare and group risk, at Jelf Employee Benefits.


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm