You are here: Malvern Hills District Council > Housing > Homelessness > Mortgage Rescue Scheme

Mortgage Rescue SchemeMortage

Worried about paying your mortgage?

If you are in this situation there are three steps you should follow:

  1. Tell your lender as soon as possible: your lender will be sympathetic and will provide as much assistance as possible.
  2. Get advice: there are organisations which offer free and independent money advice.
  3. Check the help available to you: your repayments may be covered by an insurance policy or you may be eligible for government benefits or schemes which could help you to stay in your home.

Mortgage Rescue

Mortgage rescue schemes are aimed at vulnerable households facing possession (families with children, the elderly, those with a disability or pregnant women). 

There are two forms:

  • Shared Equity – A housing association buys a stake of the equity in your property which reduces your monthly mortgage payments. You still remain the outright owner of the property
  • Mortgage to Rent – A housing association pays off your mortgage debt and you then become a tenant of the housing association, paying an affordable rent.

To find out if you are eligible for mortgage rescue or another form of assistance you should contact our agent Festival Housing Association on 01684 579579 or your local Citizens Advice Bureau 01684 567146

You can also find guidance on the Directgov or the Council of Mortgage Lenders websites

      fh   DIRECT.GOV          

Council of Mortgage Lenders

 

   

Help a Rough Sleeper
Tonight someone will sleep rough for the first time. Help us make sure they don’t spend a second night out by emailing us what you know about who they are and their location to: housingenquiry@malvernhills.gov.uk or contact the Worcestershire Homelessness Intervention Team (WHIT) by opening this link: WHIT   

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This page was last reviewed 9 July 2012 at 14:23 by Web Team.
The page is next due for review 5 January 2013.
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Malvern Hills District Council, Council House, Avenue Road, Malvern, WR14 3AF - Directions to Council Offices.