Housing organisation Orbit hold mortgage rescue meeting

Published by Max Salsbury for 24dash.com in Housing and also in Communities

Figures involved in the Government’s Mortgage Rescue scheme met last week to discuss the progress and future of the initiative, in a day organised by housing organisation Orbit Group.

There has been an increase of 141 percent in referrals to the scheme since October 2011. With announcements from Halifax, Bank of Scotland and Santander that they are increasing their interest rates, the number of referrals is expected to increase even further.

Around 80 stakeholders attended the meeting, including representatives from DCLG, the Homes and Communities Agency, local authorities, lenders (including Santander, the Co-operative Bank and Yorkshire Building Society), the Citizens Advice Bureau, syndicated registered providers and solicitors.

During the day Orbit, which is the Mortgage Rescue lead for the West Midlands, Norfolk and Suffolk, updated the assembled stakeholders on Mortgage Rescue results, developments and potential future direction.

Paul High, Managing Director of Orbit Homes, said: “We were delighted to see such a large turnout of some of the most notable partners within the Mortgage Rescue scheme in our areas. This is testament to the awareness within our organisations of the importance, and likely growth, of the scheme, as well as its importance for those struggling in these difficult economic times.”