Mortgage Arrears Crisis

1 mentions.

1992

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1992

one mention

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To take the mounting Mortgage Arrears Crisis off newspaper front pages, the Government struck a rather crude bargain with mortgage lenders: in return for building societies devising a range of mortgage rescue packages and negotiating a variety of arrangements with housing associations, the Government agreed to pay the mortgage interest element of income support direct to lenders and conceded to building society demands for a freeze on stamp duty to kick-start the slumbering property market.


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