Mortgage payment protection

Professional Adviser

Most people will be aware that the Government has been realigning State benefits and that the support it will offer to mortgage borrowers has changed.

Fewer people, however, know the details of these changes. For example, that they will have to wait nine months (or 14 if the recent proposals in the Government's Green Paper on housing are adopted) after becoming unemployed before they are eligible for State help with their mortgage repayments on mortgages. Or that 70% of people will not qualify for assistance even if they try because either the capital value of their loan is greater than £100,000, their partner works more than 24 hours a week or they have more than £8,000 in savings. Few people also realise that they are five times more li...

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