If your mortgage has turned against you, hitting you with high monthly payments and arrears that you cannot get on top of, you need to get out of that mortgage as soon as possible.

 

That's where a surrogate mortgage holder comes in.  They are experienced property buyers with good clean credit records.  They can get a mortgage at a reasonable rate of interest.  They are stable people who understand about staying in property for the long term.  They are good landlords who care about their tenants.

 

If you still have good credit then you could try to remortgage to a better mortgage deal but remember that increasing your borrowing may just delay the date you loose your home.

 

If your credit has gone awry, let someone else take the strain.  Come out of home ownership for up to  five years.  Sort your finances out.  Get your life back.  No more mortgage payments going up all the time.  No more arrears that you never seemed to make a dent in.

 

Okay, you lose some equity in your home.  Better that than losing your entire home!  At least you have a roof over your head of your choosing.  And with our scheme you don't have to lose your equity.

 

When you bought your house,  was the equity any good to you?  No, actually it's only any good when you sell and move away.  So money in your pocket but no house!

 

Equity is a myth - you can only realise your equity by upping your mortgage or selling and moving away.

 

If your home is more important to you than anything, but your mortgage has turned sour, you need a surrogate mortgage holder to step into holding your house for a while to give you a break.

 

At the end of the contacted period, you can say 'Thanks, mate, but I don't need you now.  I've got my own mortgage and I've got my house back in my name. '

 

Oh, and you've got some of your equity back, including all the money it has made in the last five years. 

 

That's what surrogate mortgage holders do - step in to help you and then step aside when you are ready.