More than 500,000 homeowners not covered by HMSS scheme

More than half of the UK’s biggest high street banks, including Abbey, Nationwide, Barclays and HSBC, have refused to join the government’s plan to support homeowners at risk of repossession. No bank that is not owned or controlled by the state has agreed to join the homeowner’s mortgage support scheme (HMSS) which was launched yesterday. A number of lenders are still in talks with the government, but it’s been estimated that 28,000 borrowers have been repossessed already in the time it has take the government to finalise the details.