Qualified advisers answering your
Financial Questions
call 0800 092 1245

Where is the help for those struggling to pay their mortgage?

As we covered in one of our earlier post, the government's Homeowners Mortgage Support scheme has been an embarrassing flop with an array of top UK banks refusing to sign up to the project. This is yet another blow to the UK government who despite announcing significant assistance for UK homeowners has been very slow in stepping forward with funding and practical assistance. Indeed the Conservative party believes that upwards of 20,000 homes have been repossessed during the time that the UK government announced the scheme and its introduction yesterday.

There are also significant concerns that banks controlling up to 55% of the UK mortgage market have not signed up to the scheme which could put yet more UK homes at risk. It is unclear why some leading banks have refused to sign up but there had been concerns about the cost of the operation and the speed at which it was being introduced. Even though many UK homeowners may be looking at the forecast recovery in the sector as a possible saviour it may come too late for many and we could see literally tens of thousands of homes repossessed over the coming weeks and months.

Share this..

Related stories

Financial Guides

Financial Calculators

Our useful calculators can help you get your finances in order:

Latest News


Helpful new tax year facts that could affect you and your money

Blog | Seven helpful new 2016/2017 tax year facts that could affect you and your money. Our recent online blog shares a brief outline on how to stay up to date.

Read more

Useful Links

Popular Searches

Please Enter More Details

Enter More Details