Sandwell MBC is expanding its remortgage scheme after just four months in which it netted nearly£2 million, report...
Sandwell MBC is expanding its remortgage scheme after just four months in which it netted nearly £2 million, reports The Birmingham Post (p4).
The council 'sold' existing council mortgages to a building society to raise funds for services and capital projects. To date nearly 800 of Sandwell's 1,764 eligible home loan borrowers have agreed to make the switch to the society at lower interest rates.
Now the council is proposing to extend the scheme to tenants who have decided to buy their homes since April or to buy in the future.