Downing Street Says » Mortgage Protection Scheme

» Friday, May 1, 2009

Mortgage Protection Scheme

Put that it had been reported yesterday that the Government’s Mortgage Protection Scheme (MPS) had so far only helped one family, the PMS said that the MPS that we had announced in January took three months in order for the benefits to feed through. Therefore it was not surprising that a scheme that was announced in January would see those sorts of numbers in April as it was only three months since the start of the scheme.

The key point was that we believed that this scheme could potentially benefit up to around 6000 households. It went alongside the other support that we were putting in place for people who were experiencing reductions in their income. We had always said it would take at least three months for a household to complete the mortgage rescue process, so therefore it was not surprising that we saw that figure just three months after it was announced.

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