This is the final publication of Mortgage Rescue Scheme monitoring statistics as reported by local authorities.
The Mortgage Rescue Scheme monitoring statistics ‘housing live table’ gives information on the number of households that approached local authorities with mortgage difficulties and applications and acceptances for the scheme.
The scheme had two elements:
- the ‘Government Mortgage to Rent’ option which involved a registered social landlord 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 involved a registered social landlord 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 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 Homes and Communities Agency management information has been used to provide figures on live cases referred to registered social landlords or with an offer from a registered social landlord 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 Homes and Communities Agency management information on the number of households that have accepted an offer through the scheme.
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.
Changes to the scheme from April mean that DCLG will no longer need to collect detailed data from Local authorities on live Mortgage Rescue Scheme cases and completions to manage the pipeline.
The department will continue to collect a small amount of quarterly data on households approaching authorities with mortgage difficulties to ensure that the positive impact of Mortgage Rescue Scheme in encouraging households to come forward for money advice can be monitored and evidenced. The Homes and Communities Agency will continue to collect monitoring information from Mortgage Rescue Scheme providers on live cases and completions of cases currently in the pipeline and under the new scheme. Details of these changes have been published in the housing and homelessness annex of the draft statistics plan which is out for consultation until the 3rd June 2011, see related publications below.
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