The government has extended its Support for Mortgage Interest scheme to provide extra assistance for homeowners struggling after losing their job.
Newly redundant householders who are having difficulty keeping up with their mortgage repayments will receive extra state support, the government has announced.
The Support for Mortgage Interest scheme will now provide extra support for homeowners, with mortgages of up to £200,000 now covered - double the previous amount. Additionally, the time needed to qualify has been lowered by two thirds to 13 weeks.
It is the latest in a raft of measures on housing from the government, which has sought to ensure that as few repossessions take place as possible. These have included an offer for mortgage holders of a two-year interest repayment "holiday".
"We have changed the rules to make sure even more people can get help with their mortgage payments if they lose their job," said the work and pensions secretary James Purnell. "We have brought in changes as quickly as possible so people don't have to wait too long for this support. Every time someone loses their job it is a personal tragedy."
The cutting of the waiting period was singled out by homeless charity Shelter as one area which would make a "huge difference" to people in financial difficulty. Its chief executive Adam Sampson told the BBC: "It does remove the immediate concerns that people have starting the New Year that if they lose their jobs that will automatically mean they are going to lose their homes."
