A scheme aimed at preventing people losing their homes in England proved to be below target but above budget, according to a report by the Audit Commission.
The Mortgage Rescue Scheme enabled not-for-profit housing associations to buy a stake or all of a home and allow the residents to continue living there by renting it back, the BBC reports. A new report from the National Audit Office (NAO) said it helped 2,600 households avoid having their homes repossessed but this was still way under the target of 6,000. The NAO found "wrong calls" were made when predicting how many people would choose to relinquish ownership of their home and rent it back from a housing association, compared with the numbers who would opt for shared ownership with t...
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