Magazine article Public Finance

Housing Scheme Failing to Help Enough Families

Magazine article Public Finance

Housing Scheme Failing to Help Enough Families

Article excerpt

Just two families have been helped by the government s £285m mortgage rescue scheme since it was launched in January.

Figures from the Department for Communities and Local Government show that one household, in the east of England, received support in April, in addition to a family that was given assistance earlier in the year.

The scheme, offered by councils throughout England, allows families struggling with mortgage payments to sell their home to a registered social landlord and become rent-paying tenants. Alternatively, they can reduce their mortgage costs by sharing the equity on the home with an RSL.

Challenged over the figures at Prime Ministers Questions on June 3, Gordon Brown said government policy was helping to cut the number of home repossessions.

The DCLG figures, published on May 29, showed 1,084 families approached councils with mortgage difficulties during April, of which 139 applied for support The total number of families waiting for assistance was 376. …

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