Stratford-on-Avon District Council has recently achieved its first success with the Governments Mortgage Rescue Scheme, working in partnership with the Citizens Advice Bureau and Orbit First Step.
The Communities and Local Government Department have advised they believe this to be the 5th Mortgage Rescue in the West Midlands since the Scheme was launched in January 2009 (awaiting audited figures).
Mortgage Rescue is targeted at the most vulnerable home owners and is intended to prevent these households from becoming homeless. In order to be eligible for the Scheme, there are certain criteria which have to be met relating to the household, their vulnerability and income, along with the value and the condition of the property.
Householders who are experiencing difficulties with meeting their mortgage repayments should firstly contact their lender in order to discuss the situation with them. Lenders have a number of hardship criteria which they may be able to apply. The householders should also consult the Citizens Advice Bureau about their situation. If Mortgage Rescue is an appropriate option, a Citizens Advice Special Caseworker will be assigned. Stratford-upon-Avon Citizens Advice Bureau can be contacted on 01789 293299.
There are two types of rescue offered by the Scheme - Shared Equity, where a housing association will provide a loan to reduce the mortgage payments, and Government Mortgage to Rent, where a housing association pays off the mortgage, renting back the property to the householder.
The Mortgage Rescue Scheme is administered by the District Councils Housing Advice Team, providing free advice to anyone who is experiencing housing difficulties.
Housing options interviews are conducted by booked appointment at the Councils headquarters in Stratford town and also at the housing surgeries at the Council offices in Shipston, Alcester and Southam.
Councillor Stephen Gray, Portfolio Holder for Revenues and Housing, said: "In these difficult economic times, I am pleased that Stratford-on-Avon District Council is able to offer this housing option to households who may be in danger of losing their home."
Anyone wishing to make an appointment should contact the Housing Advice Team on 01789 260861 or email housingadviceteam@stratford-dc.gov.uk
