If you are at risk of losing your home, the Mortgage Rescue Scheme is an initiative you should look into. Although this website does not provide homes or loans we have done the research to provide you with the advice you need to save your home from a repossession.

Our first piece of advice is act quickly. Once you are behind in your payments and a lender starts a repossession claim, time is of the essence.

Ways of Helping You with Having to pay Your Property finance loan

There are lots of ways in which you may get help to pay your mortgage loan.

This help can be from the home owner loan lender, any insurance policies you might have and the Department for Work & Pensions (DWP)

Your home loan financial institution may offer some kind of ‘Rescue Scheme’ whereby they purchase back your house or part of it. As a result of this you become a tenant or part tenant.

Mortgage Rescue Scheme Northern Ireland
The Mortgage Rescue Scheme in Northern Ireland (see reference 1) will follow the same basic guidelines as the Mortgage Rescue Schemes in the rest of the U.K. These schemes have been created to assist the homeowners who are in imminent danger of having their homes foreclosed on.

The programmes are supposed to help the most “at risk” segments of the population, while helping to slow down the real estate crisis which is plaguing Northern Ireland.
At risk populations include – Women who are pregnant, families with minor children, the physically or mentally disabled, the elderly, and people who would be homeless should their properties be repossessed by their lending institution.

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.

Mortgage Arrears Repossession and the Mortgage Rescue Scheme

Are you finding yourself close to being in mortgage arrears repossession? Have you tried negotiating with your lender? There are options, although limited. All lenders have different terms. If you are at least 6 months in back payments you are definitely at risk of repossession.

You can try for a long term homeowners loan, or maybe, even a new mortgage. That might be a difficult since you’re behind already. If you have equity in your home, your lender may listen to what you have to say. You’ll need to explain why you are behind in payments.

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