Gove: Help for Mortgage Struggles 'Under Review', But No Current Plans for Relief

The housing secretary, Michael Gove, has stated that help for people struggling with their mortgages is being kept "under review." However, any financial assistance would be a decision for the Treasury, and the BBC understands that the Treasury has no current plans to give mortgage relief.

Gove warned that any help similar to the wage support given during Covid or energy bill schemes risked driving up interest rates further.

The Treasury source added that a bailout for homeowners would be "self-defeating" because it would push up inflation and prompt the Bank of England to further raise interest rates.

David Husbands, a property valuer from County Durham, said his rising mortgage payments were "crippling" him.

Missing a mortgage payment can result in being officially in arrears, which can lead to a lender treating the borrower fairly by considering requests for changes in payment plans.

Any arrangements made will be reflected on the borrower's credit file, which can impact their ability to borrow money in the future.