MSE News: Mortgage benefit to be cut for 167,000 struggling households

Red-Squirrel_2

MARTYM8` wrote: »

Can we all get the government to pay our mortgage interest?

Yes, if we meet the criteria. I bet you wouldn't really want to be in that position though, would you!

roje

Surely the point is that this benefit protected people from homelessness? It doesn't matter whether the house is owned or rented. Paying the interest only simply ensures the residents do not lose their home, although this can still happen if the arrangement continues for too long and they cannot top up the mortgage payments as many lenders will not take kindly to an enforced interest only arrangement in the long term.

People get into difficulties for all sorts of reasons. Redundancies, ill health, relationship breakdown. We can't all predict what life will throw at us, if everyone was so cautious they catered for every eventual possibility no one would ever get a mortgage and the country would come to a standstill economically!

tgroom57

MARTYM8` wrote: »

Can we all get the government to pay our mortgage interest?

I wouldn't mind so much if a charge was placed on the property so that when its sold in the future at a profit the government (and us taxpayers) gets the money back?

Whoosh ! and with a wave of George's Budgeting wand- you have your wish.