Mortgages: Government Assistance

Communities and Local Government written question – answered on 11th March 2009.

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Photo of Mark Hoban Mark Hoban Shadow Minister (Treasury)

To ask the Secretary of State for Communities and Local Government what progress has been made on the implementation of the Homeowner Mortgage Support Scheme; and if she will make a statement.

Photo of Margaret Beckett Margaret Beckett Minister of State (Department of Communities and Local Government) (Housing)

We are making good progress on the implementation of the Homeowner Mortgage Support scheme and expect the scheme to be open for business with the first lenders in April now that the Banking Act, which is the legislative vehicle we have used to enable us to do this, has gained Royal Assent (12 February). We are now working with a wider group of lenders to finalise the scheme implementation plans and agree the draft Master Guarantee.

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