Only one family saved by mortgage rescue scheme
A recently released report claimed that whilst the mortgage rescue scheme launched by the government had been aimed at stopping many families from losing their homes, only one family had actually benefited from it.
The report was released at the start of May, and resulted in critics slating the scheme and accusing the Prime Minister, Gordon Brown, of ‘looking the other way’ as struggling families that can no longer afford their mortgage repayments lost their homes to repossession.
The scheme, which was started earlier this year, is said to have cost £200 million, and since it commenced around fifteen thousand homeowners are thought to have lost their properties.
The Department for Communities and Local Government released figures showing that over three thousand households had approached the authorities with regards to concerns over problems with meeting their repayments. Over 450 of these households applied for assistance under the new scheme.
However, the figures also showed that out of the hundreds that applied for help approval was only given to one family in the East of England.
One Liberal Democrat official said: ‘This is an appalling failure by a Government that is more interested in headline-grabbing than in helping families through the economic crisis. Tens of thousands of families will face the misery of repossession and homelessness this year.’
An official from the Conservative Party stated: ‘These shocking figures show what a sham the Government’s mortgage rescue scheme has been. Thousands of families looked to Gordon Brown for help to survive his recession and he’s looked the other way. He got us into this mess and he needs to help families through it.’
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