Mortgages: Government Assistance

Communities and Local Government written question – answered am ar 28 Ebrill 2009.

Danfonwch hysbysiad imi am ddadleuon fel hyn

Photo of Caroline Spelman Caroline Spelman Shadow Secretary of State for Communities and Local Government

To ask the Secretary of State for Communities and Local Government how many households are expected to receive assistance from the mortgage rescue scheme's (a) shared equity programme and (b) Government mortgage to rent programme (i) in total and (ii) as a proportion of the total number of housing repossessions in the next year.

Photo of Margaret Beckett Margaret Beckett Minister of State (Department of Communities and Local Government) (Housing)

The £200 million Government mortgage rescue scheme has been operational across the country since 1 January 2009. The scheme aims to support up to 6,000 vulnerable households in England at risk of repossession over the next two years. The scheme consists of two options, Government Mortgage to Rent and Shared Equity. The Government have not made any estimates of the number of households they expect to benefit from each of the two options of the scheme, neither do they make projections of the total number of housing repossessions. The mortgage rescue scheme is demand-led, with the number of vulnerable households benefiting from each of the scheme's options dependent on the circumstances of eligible households approaching their local authority for assistance.

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