Construction News

21/04/2009

Ritchie Welcomes Mortgage Scheme

Northern Ireland Housing Minister Margaret Ritchie has welcomed the announcement by HM Treasury to introduce a UK-wide Homeowners Mortgage Support Scheme.

Lenders covering around 80% of the mortgage market will now be providing enhanced support to their customers who may be facing difficulties at this time.

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The scheme is voluntary, subject to eligibility criteria and open for two years.

Ms Ritchie said: "The Homeowners Mortgage Support Scheme is a welcome boost for homeowners in this current economic climate.

"It will help a homeowner who experiences a temporary fall in income to rearrange their finances for an interim period to prevent them from losing their home."

The Minister urged homeowners in financial difficulty to seek independent advice as soon as possible.

(PR/BMcC)

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