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7th Jul 2009
Government to help lenders with mortgage schemes
Government to help lenders with mortgage schemes
John Healey MP, minister for housing at the Department for Communities and Local Government, says it will be employing a small staff to work with lenders to find people that are eligible for the mortgage rescue scheme.
Speaking at a Treasury Select Committee meeting on mortgage arrears and access to mortgage finance this morning.
Healey says: “The team will trawl through lenders’ loans books and take the initiative to contact any customers that are eligible for the scheme, rather than leaving them it until it's too late.”
While Lord Myners, financial services secretary at the HM Treasury says he expects higher LTV lending to return to the market as confidence returns and insurers look at insuring higher LTVs.
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