The Government's Mortgage Rescue Service

Mortgage rescue operates with local authorities, Registered Social Landlords (RSL's), lenders and debt advice agencies all working together. The service is intended to assist those who would be eligible for homelessness assistance should they be repossessed and evicted.

It is hoped that this £200million Government package will help prevent up to 6,000 repossessions.

The Mortgage Rescue Service comes in two parts:-

Shared Equity:

This is intended to help mortgage holders who are finding repayments unaffordable due to being placed on higher rates of interest.

To qualify, you must have some equity in your home, and not be facing difficulties due to loss of income, while satisfying other criteria.

Overall mortgage repayments are reduced by one of your local council's RSL's providing an additional loan, which is repayable at an affordable rate.

Government Mortgage to Rent:

This is intended to help the most vulnerable households on low incomes who have little chance of maintaining mortgage payments. The RSL clears the entire mortgage debt and takes ownership of the property. The property is rented back at an affordable rate.

Can Mortgage Rescue Help Me?

It depends on personal circumstances, so please call our repossession advice specialists on Freephone (from a landline) 0800 043 2444 or submit the enquiry form.

No matter how bad your think your situation is - it's not too late to ask for help.