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12/10/2009
NI Mortgage Scheme 'Delay' Slammed
There has been a call to speed up a proposed mortgage 'relief' scheme for those in danger of repossession.
Sinn Féin Housing spokesperson Fra McCann MLA has called on the Stormont Social Development Minister Margaret Ritchie to explain what is alleged to be a delay in the "much lauded mortgage scheme for people in danger losing their homes, particularly given the current economic climate".
Mr McCann said: "For over 18 months now we have heard how the Minister was going to bring in a series of measures which would help those who have found it difficult to keep up with their mortgage payments and face the possibility of losing their homes.
"Whilst mortgage assistance has been enacted in other jurisdictions, sadly that hasn't been the case here as the Minister has failed to live up to peoples expectations by not delivering on her promises," he said.
"Margaret Ritchie should tell us what action has been taken thus far in implementing this scheme, as up until now it has been very limited.
"The harsh reality is that people out there are loosing their homes and they are looking to the housing Minister for assistance; it must be forthcoming."
Over the summer, the Homeowners Mortgage Support was announced as a UK wide Government backed initiative.
This Government guarantee scheme is for home owners who have encountered a short term reduction in income which impacts on their ability to meet their mortgage payments.
It will enable homeowners to defer a proportion of their mortgage interest payments for a maximum period of up to two years.
See: Mortgage Repossession 'Last Resort'
(BMcC/GK)
Sinn Féin Housing spokesperson Fra McCann MLA has called on the Stormont Social Development Minister Margaret Ritchie to explain what is alleged to be a delay in the "much lauded mortgage scheme for people in danger losing their homes, particularly given the current economic climate".
Mr McCann said: "For over 18 months now we have heard how the Minister was going to bring in a series of measures which would help those who have found it difficult to keep up with their mortgage payments and face the possibility of losing their homes.
"Whilst mortgage assistance has been enacted in other jurisdictions, sadly that hasn't been the case here as the Minister has failed to live up to peoples expectations by not delivering on her promises," he said.
"Margaret Ritchie should tell us what action has been taken thus far in implementing this scheme, as up until now it has been very limited.
"The harsh reality is that people out there are loosing their homes and they are looking to the housing Minister for assistance; it must be forthcoming."
Over the summer, the Homeowners Mortgage Support was announced as a UK wide Government backed initiative.
This Government guarantee scheme is for home owners who have encountered a short term reduction in income which impacts on their ability to meet their mortgage payments.
It will enable homeowners to defer a proportion of their mortgage interest payments for a maximum period of up to two years.
See: Mortgage Repossession 'Last Resort'
(BMcC/GK)
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Ulster Bank Extends No-Deposit Mortgage
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30 April 2008
Property Prices To Equalise
While the price of a house in Northern Ireland will have dropped by a total of £75,000 by the end of this year, taking the average price of a house here to £175,000, that is in line with the current UK-wide figure - now said to be £178,555.
Property Prices To Equalise
While the price of a house in Northern Ireland will have dropped by a total of £75,000 by the end of this year, taking the average price of a house here to £175,000, that is in line with the current UK-wide figure - now said to be £178,555.
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Northern Ireland WeatherThis Evening and Tonight:A dry night, save for a few light showers around the coasts, with prolonged clear spells and light winds bringing a frosty dawn for many in central and southern parts. Minimum temperature -3 °C.
