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Mortgages: Government Assistance

Volume 488: debated on Monday 2 March 2009

To ask the Secretary of State for Communities and Local Government how many homeowners are currently in receipt of assistance under the Homeowner Mortgage Protection Scheme. (256188)

On 3 December 2008, the Prime Minister announced additional support for homeowners facing financial difficulties through a new homeowners mortgage support scheme.

It became clear that legislative change was required. This was secured on 12 February when the Banking Bill received Royal Assent.

I wrote to lenders detailing the proposed key elements of the scheme in December. This letter is available at:

http://www.communities.gov.uk/publications/housing/homeownersmortgagesupport

We are now working urgently with lenders and debt advisers to confirm the final design and implementation details, and to open the scheme for borrowers in spring 2009.