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Mortgage support scheme postponed

11/03/2009


Homeowners in the UK have been disappointed by the government because a mortgage support scheme has been delayed.


As the recession kicks in and more homeowners find it hard to pay their mortgage repayments, people have said that they have been let down by the government due to the mortgage support scheme being postponed.
The mortgage scheme which was due to be introduced in December 2008 will now take centre stage in April 2009.


The scheme will have very tight criteria therefore limiting the people that will benefit from the support, reports mortgage experts.


Spokesman for the Scottish National Party, Stewart Hosie commented, “Firstly, Baroness Vadera revealed that only a tiny per centage of the small business protection scheme has been rolled out, then as the UK Government struggles to agree the terms of the bank asset protection scheme, the Lloyds share price plummets.... And now, we discover that help for struggling homeowners is still not yet up and running."


As the scheme is being launch in April 2009 which is not to far away now, the final specifications of the scheme are at present being approved with various lenders.


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