De­ferred pay­ment scheme ex­tended

Yorkshire Post - Property - - PROPERTY -

Good news for those who are strug­gling with mort­gage pay­ments and risk hav­ing their homes re­pos­sessed.

The Govern­ment has ex­tended its sup­port for de­fer­ring mort­gage in­ter­est pay­ments for home­own­ers who suf­fer re­dun­dancy or loss of in­come.

The £200,000 limit on mort­gage size and the 13-week wait­ing pe­riod (down from 39 weeks) will re­main in place un­til Jan­uary 2012.

Ac­cord­ing to the Govern­ment, this will cost £90m over the next two years.

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