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Government mortgage scheme ridiculed in public

The UK government's much heralded mortgage rescue scheme, which was put in place to assist those struggling to pay their mortgage, has been ridiculed in public by opposition party. Amid confirmation that the £285 million scheme, designed to rescue families in trouble, has only taken on two families since its inception earlier this year does not bode well for the future.

This is the scheme which Gordon Brown, Alistair Darling and Lord Mandelson were very vocal in supporting and one which they promised would assist UK householders across the country. Yet again property owners feel cheated and used as another UK government scheme goes by the wayside, never to be mentioned again. However, surely there are better ways to invest this £285 million funded scheme which has taken on only two customers since inception?

It is uncertain as to why only two people have joined the scheme but there appear to be delays behind the scenes and concerns about the availability of finance. Yet again, this is a perfect example of the headline grabbing news which only days later begins to unravel and eventually collapse. So far there has been no comment from the UK government regarding the revelation that only two families have been helped although we should see some kind of response over the next few days.

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