Mortgage burden on homeowners targeted

AMONG the measures introduced by Britain’s chancellor of the exchequer Alistair Darling aimed at limiting the mortgage burden on homeowners includes a limit on the mortgage interest scheme which was raised to £200,000 (€235,350) from £100,000.

The mortgage rescue scheme, which involves the council, association, or lender purchasing a person’s property and allowing them to live there in exchange for rent is to be extended to cover those with second homes.

The government has also made available an additional £775 million for new homes and modernisation programmes to be directed towards social housing units was also made available.