Mortgage rescue schemes
We can help homeowners who are struggling to pay their
mortgage or facing repossession.
Our ‘Mortgage Rescue Scheme’ aims to help homeowners who
are at risk of losing their home.
Each individual case is assessed and we give priority to
those with children, expectant mothers, people aged over 60 and
those with mental and/or physical disabilities.
If we can't help you with this scheme, there is still debt
advice available to help find you the best financial solution
possible.
Mortgage rescue is a last resort after all other options have
been considered. The schemes FREE and impartial debt advisors can
help in other ways as well as acting on your behalf at court
if it gets to that stage.
The scheme has debt advisors based at the Citizens Advice
Bureau, and in our advice team.
As well as assisting with your mortgage, we might be able to
help you with other debts like credit card debt.
How mortgage rescue can help
‘Shared Equity’ is where a housing association
buys part of the equity in your property. This means reduced
monthly repayments. The equity is paid back when the property is
sold.
The ‘Government mortgage to rent scheme’ is
when a housing association buts your property. You stay in your
home and pay rent to that particular housing association.
You may also be able to claim Support for Mortgage Interest
(SMI) on the outstanding payments.
Mortgage rescue may be able to help if
- You are a homeowner with a household income of less than
£60,000
- The property is the only property that you own
- The property is suitable for all habitants
- You are able to sustain a tenancy after the ‘Rescue’
- Your household circumstances qualify, this will be assessed by
the Mortgage Rescue team
Where to get further information
Contact us on 01706 92 6671. We will explain how we can help you
as there are many options available.