Why doesn't the government help out directly with mortgage payments?
The UK government has instigated a number of new mortgage relief schemes over the last few months which have been put in place to try and assist those falling behind with their mortgage payments. However, none of the schemes available at the moment will actually see the government contribute directly towards mortgage payments, with many only deferring payments to the future and possibly building up more problems for the homeowners in question. So why can't the government contribute directly to mortgage payments?
The fact is that while many schemes on the surface appear to have the best intentions at heart, very few have been successful because of the tight criteria often associated with them. Surely it would be better for the UK government to introduce tax breaks for those with mortgage arrears as their powers of control over the UK banking sector have been shown to be near zero. Short-term assistance with regards to mortgage and remortgage payments would offer some relief to those struggling in the UK and ultimately, if their situations did not improve, is it a viable option to fund them in the longer term?
While we are obviously discussing people's lives and people's homes there may well be difficult decisions to make with regards to the ability of some homeowners in the UK to afford their properties in the future.
Share this..
Related stories
Man Hole Covers At Risk As Scrap Prices Rise
As crazy as it may seem there are many councils throughout the UK reporting the theft of increasing numbers of manhole covers from the side of roads. Places such as Surrey have seen 268 covers stolen since April with 220 covers stolen in a four day binge in Warwickshire. So why the big increase? What is going on?
The big increase in the theft of these manhole covers is simply beca...
CBI calls for changes in UK pension system
The CBI has today spoken out in support of UK businesses and demanded that the UK authorities review the current pension arrangements. The institute believes that UK businesses are at a "severe competitive disadvantage" because of the various rules and regulations present in certain areas of UK pension industry. One of the main problems is the short-term reviews required under current regulations...
Read MoreGordon Brown highlights concerns for Eastern Europe
As news starts to filter through to the stock market that Hungary has received a multibillion pound IMF bailout payment it seems that the ongoing credit crisis has now spread to Eastern Europe which had for some time been insulated from the effect. We are starting to see many of the so-called emerging markets struggle with finance very thin on the ground and investors very concerned about the shor...
Read MoreAre we talking ourselves into another downturn?
As the chief executive of Unilever issues are very downbeat assessment of the global economy there are growing concerns that we are on the verge of talking ourselves into another downturn. Only a few weeks ago investors were happy to pour money into the UK stock market with high hopes that the economy had turned the corner and the global situation was recovering. However, only a few weeks down the...
Read MoreWill the recession impact upon UK education?
While the ongoing construction of new schools across the UK continues unabated, there is serious concern about both college and university education in the short to medium term. Not only is the government running short of significant funds but many parents, who have historically paid for their children to go on to further education, are now finding the extra funding very difficult to come by. Whil...
Read More