Budget relief for homeowners
24 March 2010
Shelter has welcomed the announcement that the interest rate on Support for Mortgage Interest, a state benefit paid to struggling homeowners, will be frozen for a further six months. Chancellor of the Exchequer Alistair Darling made the commitment in today’s Budget.
The benefit covers mortgage interest payments for people who have lost their jobs and are on benefits such as income support, jobseekers allowance and employment and support allowance.
Campbell Robb, chief executive of Shelter, said:
‘We are thrilled to see the Chancellor has extended the existing rate of Support for Mortgage Interest to the end of the year, which will be welcome news to thousands of struggling homeowners.
‘Evidence shows these schemes are making a difference on the ground, and with repossessions set to reach 53,000 this year it’s vital that safety nets are kept in place to help people stay in their homes.
‘We continue to look to all political parties to make a commitment to solving our desperate housing crisis by making housing a top election priority.’
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