Help at hand for mortgage repayments

Denbighshire County Council is highlighting the availability of the Mortgage Rescue scheme, in an attempt to assist people in the county who may be having difficulty in meeting their mortgage payments.

The Mortgage Rescue Scheme is funded by the Welsh Assembly Government in partnership with Denbighshire County Council and Cymdeithas Tai Clwyd. Its intention is to help homeowners avoid mortgage repossession where this will result in homelessness.

Councillor Christine Evans, Denbighshire County Council’s Homelessness Champion, said:“This is an important scheme that aims to support and assist those who are experiencing difficulties with their mortgages to remain in their homes and avoid homelessness as a result of the current economic downturn.

“I am pleased to see the Welsh Assembly Government and the Council take such active steps to try and assist any residents who may be in danger of homelessness because of difficulty in meeting mortgage payments”.

Gwenan Jones, Senior Affordable Housing Officer at Cymdeithas Tai Clwyd said:“A number of home owners have been assisted to date. The scheme is excellent ways of assisting homeowners to remain in their homes, and as a result, the family is able to remain close to family and friends, and the children can remain at their school.”

The Mortgage Rescue Scheme will not be the best option for everyone. It may be possible for people to get back on track with their mortgage payments without having to sell their home. If people are having difficulty paying your mortgage you must talk to your lender and take independent advice to find out what options are available to you as soon as you think there may a problem

The scheme is open to people who would be a priority for re-housing with a local council or housing association. Denbighshire County Council can tell you if this applies to you but in the first instance you must be able to answer yes to all of the following:

• Your home is in danger of being repossessed. That is, your lender has indicated the intention to repossess your home.
• You will be homeless if the property is repossessed.
• The property is your only or main residence.
• The property is clear of any legal reasons that would prevent it being sold.
• You are unable to sell and buy a cheaper home locally.

If you are eligible, the housing association will look at the level of your debts, the cost of buying your home and any repairs or other works that are necessary. In some cases, it will not be possible to go ahead with your application if the costs are too high to make it practical.

If you think that the Mortgage Rescue Scheme could help you, you should contact:

Denbighshire County Council’s Homelessness Team on 01824 706100 (Welsh Language) and 01824 70 6101 (English Language)

Before applying for the Mortgage Rescue Scheme we recommend you firstly seek independent advice. Contact details can be found below

Housing Debt Helpline Wales: 0800 107 1340 or visit

www.housing-debt-helpline-wales.org/

Shelter Cymru 0845 075 5005 or visit www.sheltercymru.org.uk/shelter/home

Citizens Advice Bureau: Local office numbers in the phone book or online: www.citizensadvice.org.uk