mortgage protection insurance...

[ledger]

I'm thinking about getting some mortgage protection insurance, due to the current economic climate. However I saw a headline a week or so back saying that the govt were going to offer a "lifeline" to homeowners who were made redundant. There was no real detail in the article, just a mention of a prolonged mortgage holiday.

Anybody aware of this ?

[Road Pest]

http://www.pistonheads.com/gassing/topic.asp?h=0&a...

I think only some lenders are on board at the moment and the finer details haven't been settled yet.

[Crusoe]

think that was the lifeline, if you are struggling most of the banks should now allow you a 6 month holiday on your payments while you have a chance to sort your finances out and find another job etc. rather than repossessing.