Please note - this page is currently being reviewed.
This page could contain out of date information or no longer reflect our organisation's current position. The page is currently under review and will either be updated or removed.
Mortgage Rescue Scheme
The Government Mortgage Rescue scheme, introduced on 1 January 2009, provides £200 million of funding to help support the most vulnerable households facing repossession to remain in their homes.
The scheme, which aims to prevent homelessness, provides a safety net for up to 6,000 households nationally.
Under the scheme, eligible homeowners may be offered two options depending on their individual circumstances:
1. Shared Equity - to own their home on a shared equity basis, with a share being sold to a Housing Association.
2. Government Mortgage to Rent - the property is sold to a Housing Association enabling the homeowner to remain in the property as a Housing Association tenant on an assured shorthold tenancy, paying a sub-market rent.
Please note that the Government's Mortgage Rescue Scheme is currently under review and may be amended in the near future.
For more information about the scheme contact Housing Solutions.