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New scheme to help homeowners

Updated on 21 April 2009

By Bridgid Nzekwu

Homeowners who get into temporary financial trouble could be able to reduce mortgage payments for up to two years from today, with help from the taxpayer.

The government's long-awaited mortgage support scheme has finally come into force, more than four months after it was announced.

The delay seems to be down to the banks, who needed some persuasion to sign up to the scheme. But ministers insist that lenders representing more than 80 per cent of the mortgage market have now agreed to offer support.



Krishnan talks to housing minister Margaret Beckett.

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