Mortgage support scheme launched

The homeowner mortgage support scheme has also been launched today. It aims to help with mortgage interest payments for up to 40,000 homeowners who have lost their jobs or had a sudden loss of income. Those with mortgages up to £400,000 and with savings of less than £16,000 will be given help for as long as two years, although they will be required to fund 30 per cent of the payment and have to repay the full amount once their financial system improves.