Flexible grant rates will be available in the future for the Government’s mortgage rescue scheme, the HCA has announced.
The HCA – which funds the mortgage rescue scheme on the behalf of the Government – has pumped £285m into the scheme. Local authorities are currently processing applications for the scheme and, if eligible, they will be referred to the 23 housing associations asked to offer assistance.
The troubled scheme has been vigorously promoted in recent weeks by housing minister, John Healey.
He recently announced support for flexible rates at the National Housing Federation’s conference in Birmingham.
By September this year, only 605 homes had applied, and of those, 46 received an offer from a registered social landlord.
It is hoped the new cash will encourage more to apply.
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