Mortgage Rescue Scheme monitoring statistics: September 2010
The Mortgage Rescue Scheme monitoring statistics ‘housing live table’ gives information on the number of households approaching local authorities…
Applies to England
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The Mortgage Rescue Scheme monitoring statistics ‘housing live table’ gives information on the number of households approaching local authorities with mortgage difficulties and applications and acceptances for the scheme.
The scheme has 2 elements:
- the ‘Government Mortgage to Rent’ option which involves a RSL purchasing the homeowner’s property, enabling the household to remain in the property as a tenant on an assured short hold tenancy, paying an intermediate rent
- the ‘Shared Equity’ option which involves a RSL providing a loan to the homeowner to enable the homeowner’s monthly mortgage payments to be reduced.
The figures, presented by Government Office Region, are derived from Mortgage Rescue Scheme returns submitted to Communities and Local Government by local authorities, the fast-track case management system, Shelter monitoring returns and Homes and Communities Agency (HCA) management information.
Local authority figures do not contain estimates for missing returns. Information on the local authority response rate is provided alongside the reported figures for each period.
The fast-track team which was launched in September 2009 to centrally take referrals directly from lenders and process them through to completion, ceased taking new referrals at the end of June 2010 and closed on 31 August 2010, with all ongoing cases passed to Shelter for action. Up to and including Q2 2010 all figures on fast-track cases and completions come from the fast-track case management system.
From Q3 2010 onwards Shelter monitoring returns have been used to provide figures on live former fast-track cases where they are carrying out the initial assessment and HCA management information has been used to provide figures on live cases referred to RSLs or with an offer from an RSL as at the end of the quarter and the number of households that have accepted an offer through the scheme during the quarter. There will therefore be a discontinuity in the fast-track figures from Q3 2010 onwards.
Figures for different periods are shown on separate tabs in the workbook. The figures undergo validation and cross checking overseen by DCLG statisticians and are reconciled with HCA management information on the number of households that have accepted an offer through the scheme.
The Mortgage Rescue Scheme monitoring statistics are released quarterly on the same day as statistical publications on repossessions produced by the Ministry of Justice and the Council of Mortgage Lenders.
These figures have been pre-released in accordance with the Pre-release Access Order and the pre release access list can be found in the Downloads below.
Responsible Statistician: Laurie Thompson
**Public enquiries: ** [email protected]
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