An effective safety net for homeowners is 'vital'

Posted: 14 Dec 2009 12:00:14 GMT

The government providing an effective safety net for homeowners is "vital", according to a spokesperson from the Chartered Institute of Housing (CIH).

Her comments come in response to the government announcement that the Support for Interest Scheme will be extended for a further six months.

The scheme was introduced with the intention of helping homeowners who are experiencing financial hardship to stay in their property.

Furthermore, the spokesperson added that the CIH welcomes the government's decision to extend this measure but homeowner safety nets such as this need to "sit alongside adequate provision of advice".

In last week's pre-budget report chancellor of the exchequer Alistair Darling said that since this provision was introduced it has helped over 220,000 people.

Mr Darling went on to tell the Speaker that the more successful measures such as these are in restoring confidence to the housing market, the lower the cost will be to the exchequer and therefore, to the country's economy as a whole.

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