Downing Street Says » Mortgage Relief Scheme

» Tuesday, June 30, 2009

Mortgage Relief Scheme

Asked if the Prime Minister thought the scheme was a cause for celebration given that it had only helped six people, the PMS said that this a reflection of the fact that clearly there were a number of procedures that had to be gone through in order for people to qualify for this particular scheme. People would need to not be able to meet their mortgage payments for a certain period of time and since the scheme was still at an early stage in its introduction, it was not surprising that at this stage, those were the numbers that were benefiting from it.

The key thing was that we put in place assistance that was available to people. We were not seeing the level of repossessions and people losing their homes as a result of what was happening in the economy as we had seen in previous recessions in the 1990 s and 1980 s.

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