But will it work?

I think that Mike Smithson has got it spot on after lokking the morning newspapers but how much of a protection does the announcement yesterday actually give.

One of the contentious issues is surely how do you prove that someone's drop in income is related to the recession.How do you account for people who overcommitted in the first place and how are the banks going to fund this?

After all although the government is going to guarantee the mortgage interest for two years,they will still have to show it as liability and thus will impair their abilities to lend