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Govt rescue: Not all mortgage nations are created equal

by: The Insider
  • 15/03/2012
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Govt rescue: Not all mortgage nations are created equal
Mortgage Solutions' exclusive columnist, The Insider, explains why the UK is a nation divided by its provision of help for struggling mortgage borrowers.

The government’s mortgage rescue scheme, which I have mentioned previously, looks like it is set to keep rolling on. This is very good news as far as I am concerned.

The budget wasn’t spent last year, so the councils in England have a pot of approximately £120m to spend.

Scotland has its own scheme, which it has been running for years separate to this initiative.

In a typically Scottish way, they were miles ahead of the rest of the UK and their Communities For Scotland scheme has been running since the 1990s in one guise or another.

Wales had something similar to England, but their assembly cancelled the budget for it, meaning that if you live in Wales you are at the mercy of the vagaries of local council if you are in difficulty with your mortgage.

Northern Ireland, probably because of its historical ‘troubles’ has never had anything in place.

Bearing in mind that in large areas of Northern Ireland we can’t even evict people because they are run by former paramilitary gangs, it is unsurprising that the local authorities there don’t particularly want to get involved.

Still it’s a very good scheme even when you consider that the UK’s councils evict many times more people than all the banks put together.

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