Further to the resolution as part of the 2009/10 Council Budget, a report by the Director of Finance updated the Cabinet on the possible extension of the mortgage scheme.

RESOLVED - That

(1)  the work in progressing the extension of the Council mortgage scheme be noted;

(2)  the initiatives of the Government, lending institutions and advice agencies particularly in the local area be noted; and

(3)  a further report be submitted to the Cabinet when the Financial Services Authority has made recommendations on the implementation of proposals for a more sustainable mortgage market.