Mortgage Rescue Scheme Wales:Registered Social Landlords

Registered Social Landlords are at the heart of the Mortgage Rescue Scheme. This scheme works under the Welsh Assembly Government; housing is a devolved power in the United Kingdom. Scotland, England and Northern Island have similar schemes of their own. A registered social lender is a non-profit housing association registered with the Welsh Assembly. The term non-profit does not mean they don’t charge fees for their services, far from it. However, for registered social lenders, financial profit is not the main motivating force of the association. The scheme is designed to encourage registered social landlords to buy the homes of low-income borrowers that cannot afford their mortgages. They then rent the home back at a subsidized rate.

The Mortgage Rescue Scheme: Options and Alternatives

The Mortgage Rescue Scheme is an option for homeowners who are struggling to pay their mortgages, but it is not the only option. Make sure you understand what the scheme involves and the long-term effects they will have on you and your family.

The Schemes

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