The English government provides first-time owners and other buyers who cannot afford a house the opportunity of buying a share in a property. Shared ownership mortgages provide buyers with some of the advantages of home ownership while reducing the cost of buying one.

To buy a home through the governments HomeBuy scheme you must apply through a local HomeBuy agent. The list below provides a list of HomeBuy agents and contact details by region and area provided by Direct.gov, the government’s public service website.

Shared ownership mortgages are a popular product for first-time buyers and homeowners who are struggling to pay their mortgages. They offer buyers the opportunity of enjoying some of the benefits of home ownership at a reduced cost. Are they a good way to take your first step on the property ladder? What are the risks associated with them? And what shared ownership mortgages are now available?

This series of articles on shared ownership mortgages will provide you with the answers to these and other questions on part-buy/part-rent schemes.

Definition:

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.

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.

England’s Mortgage Rescue Scheme Changes Gears

The government has announced significant changes in the way England’s Mortgage Rescue Scheme finances aid for struggling borrowers. The English program is similar to other housing programs in Scotland, Wales and Northern Island. The purpose of the scheme is to help struggling homeowners at risk of foreclosure who cannot find other methods to avoid losing their home. It also focuses on borrowers that will qualify for homeless aid if they lose their home.