Some more embarrasing news for the Government today with the news that their much heralded "Mortgage Rescue Scheme" has so far helped the sum total of....one household.Setting aside £200million, the aim of the scheme was to help homeowners with payment difficulties sell part or all of their property to a registered social landlord to avoid being repossessed.
As with any number of these Government announced schemes (and this is no way aimed at this particular Government) the publicity generated the announcement of these schemes is often undermined by their actual efficacy once implemented. Whilst this scheme in principle will be helpful for those most vulnerable households, the fact that only one has actually been assisted rather makes a mockery of the whole endeavour.
I have said it before and will say it again - if the Government spent more time talking to the banks to free up money to lend to average, ordinary homeowners instead of expending time, energy and money on ideas such as the Mortgage Rescue Scheme, many millions of homeowners would find they could be helped...rather than (in this instance) just one.
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