Monday, 16 August 2021

They own land! Give them money!

Spotted by Lola in Money Age:

Payment deferrals keep mortgage arrears at historic low levels

... Commenting on the data, PRIMIS Mortgage Network proposition director, Vikki Jefferies, said: “Today’s continued low levels of arrears reflects the fact that the industry has managed to protect those customers who have been most affected by the pandemic. There is no doubt that government schemes such as furlough and the Coronavirus Business Interruption Loan Scheme (CBILS), combined with payment deferrals from lenders, have supported customers and the market during this difficult time.

“As these support schemes come to an end, however, it will be vital to provide proactive and sustained support for brokers. The housing market has been a driving force behind the UK’s economic recovery from the coronavirus crisis, but it’s important to note that the long-term impact of the pandemic may not yet be visible and there remain a number of borrowers who faced financial difficulty pre-pandemic who have continued to build up arrears through the crisis.”

"supported customers and the market" means "kept house prices high and rising", of course. I'm not sure why "brokers are worthy of support, if they chucked all these subsidies in the bin, there'd still be enough for them to do.


Lola said...

I tangentally belong to the 'brokers' group and I despair.

Mark Wadsworth said...

L, it's embarrassing when people in the same job do special pleading.

Bayard said...

Nowt wrong with special pleading, it's taking any notice of it that's the crime.

mombers said...

And again, marginal increases in income goes largely to landowners with no additional services rendered or value created. And possible post hoc rent arrears grants being considered for landlords??

Mark Wadsworth said...

M "largely"??