Rochdale not fast-tracking mortgage rescue scheme

12 areas in the North West have agreed to fast track the Government’s mortgage rescue scheme but Rochdale is not one of them.

The scheme enables people to switch to renting their homes and is designed to help people having trouble repaying their mortgage to stay in their homes by selling a portion of the equity to a housing association.

There are over 50,000 job vacancies in the North West and help is available for people struggling during the credit crunch, says a Government minister.

Beverley Hughes, Minister for the North-West, has spelt out how the Government is helping people in the region through the recession.

Ms Hughes said: “The Government is working hard to pull together the support we need to tackle the economic downturn and offer real help now to families, businesses and local communities to give real hope for the future.

“The Government has invested in extra help and support for those faced with losing their jobs. There were 53,480 vacancies in the region in November and Jobcentre Plus has put in place a five-point pledge for all jobseekers — including cash for retraining, learning new skills and even mortgage repayments.

“From April, we will guarantee extra support for people who have been out of work for more than six months, including up to £2,500 for employers for every person they recruit and train.

“The world economy is set to double, including expanding digital and green job markets, and we must be ready to seize the opportunities that this presents, ensuring that these better jobs can be captured by everyone.

“Real help and opportunity is there. I urge people to act now and contact their local Jobcentre Plus or Business Link North-West and find out what help is available to them.”

She added that the Joint Economic Commission for the North-West, which she co-chairs, is helping co-ordinate action being taken to save jobs in the region and ensure that it emerges from the economic downturn stronger than before.

And a range of measures are being put in place to help the ailing housing market with the Government Office North-West, the Homes and Community Agency and the Northwest Development Agency looking at major sites that could deliver significant numbers of new houses.