Government Repossession Help - Mortgage Rescue

The Government have been bailing out the banks, but what are they doing the help Joe Public and his family?

The answer is cutting the base rate and for those already in mortgage crisis - the Mortgage Rescue Service.

What is mortgage rescue ?

Mortgage Rescue is the name given to a new Government financed service to help the most vulnerable families who are experiencing mortgage distress. These measures were announced in November 2008 to provide some £200 million of funding with the intention of preventing up to 10% of repossessions.

How Does Mortgage Rescue Work?

Mortgage rescue operates by debt advice agencies, local government and Registered Social Landlords (RSL's) combining forces. The aim is to help households who would qualify for homelessness assistance if they were to be repossessed.

The Mortgage Rescue Service has two Forms:-

Government Mortgage to Rent:

A service to help the most vulnerable households with lower incomes and little chance of keeping up repayments. The RSL buys the property for a fair price and lets it back at a fair and affordable rate. Registered Social Landlords are regulated, so this is a much safer offering for the consumer than that offered by the unregulated sell and rent operators.

Shared Equity:

A service to assist homeowners who are not able to afford their mortgage due to interest rate rises. This is sometimes referred to as experiencing mortgage shock.

To qualify, you must not have negative equity nor be facing difficulties due to a reduction in income, while satisfying other criteria.

Overall mortgage repayments are lowered by one of your local council's RSL's supplying an equity loan, which is repayable at an affordable rate.

do I Qualify for Mortgage Rescue?

Contact us - and we'll tell you.

Eligibility depends on strict criteria and your household situation, so please call our repossession prevention specialists on Freephone 0800 107 8448 or, submit the form below giving brief details.

Get Help Now - Don't Lose Your Home

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