Support Schemes, government -> borrowers Options

[P.B.Smith]

As far as I know, yesterday UK government announced the list of lenders who have signed up for the homeowners mortgage support scheme. however, a large number of lenders refused to participate. moreover, many experts critisize the scheme by saying that it will only make things worse for the large majority of borrowers.

what do you think of this scheme in particular and of other governmental measures, aimed to "support" homeowners?

[imaster]

I dont know anything about any schemes apart from the one mentioned above. What i do know is, that i don't trust the current government. It doesnt seem they are interested in helping the homeowners or businesses or unemployed out, especially when the help is most needed! My grandma used to say smth along these lines: 'have faith in God, but rely only on yourself!' Government is not even in the equasion!

[Solomon51]

imaster, well, there is a great lot of other so-called "support schemes".
they include:
the above-mentioned Homeowners Mortgage Support Scheme
Mortgage Rescue Scheme
Home Buy Direct
... there should be something else that I've missed out.

This post has been edited by Solomon51: 11.5.2009, 8:02

[Dandelion]

Hi
As I know two weeks ago the Government wanted to launch new Build-to-Let scheme that is aimed to attract cash flows to the renting sector and to provide the growing number of tenants with good accomodation. In other words the Government is going to force banks and other financial lenders to give loans. However banks who have already felt the lack of money refuse to do this in a tricky way. I would say no matter what financial products they suggest to us, still they do not want to say “good bye” to their money.

[imaster]

The thing is if they do not part with their money, they will not be able to make any profit charged in interest.Think the banks are just playing cautious but may go with the schemes, especially if they are backed by the government.

[Lisa]

As far as I know, yesterday UK government announced the list of lenders who have signed up for the homeowners mortgage support scheme. however, a large number of lenders refused to participate. moreover, many experts critisize the scheme by saying that it will only make things worse for the large majority of borrowers.

what do you think of this scheme in particular and of other governmental measures, aimed to "support" homeowners?

There aren't enough *** to put here what i really think about current government support schemes. They are not well thought out, to put it mildly. According to recent BBC news, since the mortgage rescue scheme's been running (about 4 months), just two households have been assisted under this scheme!!!! Or am i expecting too much?