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Scottish Labour Party Debate: Cost of Living: Mortgage Rescue Scheme

Wednesday 23 November 2022 4:21 PM


That the Parliament notes the increase in mortgage costs due to the sharp rise in interest rates following the UK Government’s disastrous mini-budget; believes that, combined with wider cost of living pressures, higher mortgage repayments will push some households into poverty and that action is needed to prevent a spike in arrears and homelessness; recognises that the Scottish Government's Mortgage to Shared Equity scheme has not had a successful application since 2015-16, and calls for the Scottish Government to relaunch and revamp the scheme so that it is not limited to only those with existing high levels of equity, that eligibility thresholds reflect true house price values and that there is a maximum application turnaround time of two months.

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