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PBR: Mortgage support scheme extended for six months

Chancellor Alistair Darling has extended the mortgage support scheme for six months which he says has helped 220,000 people so far.

In his pre-Budget report speech, Darling says that it wouldn’t be right to withdraw support for homeowners just yet.

He also confirmed that the stamp duty holiday would end on January 1 2010.

Kinleigh Folkard & Hayward financial services director John Phillips says the extension of the scheme will be of little benefit to the housing industry.  

He says: “Whilst it will provide much-needed security for those who own homes and who may be struggling financially, it is less likely to give an incentive to people in such circumstances who may have been considering selling their property. This will add to an already existent shortage of stock on the sales market.”

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