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Mortgage Rescue

Mortgage Rescue

Are you having serious problems paying your mortgage? Are you in danger of having your home repossessed? Our Mortgage Rescue scheme may be able to help.
 

If you contact our Mortgage Rescue team on 029 2085 8100, we will consider buying your home from you outright and renting it back to you as our tenant. If we do that, you will begin with an Assured Shorthold tenancy – what we call a ‘Starter Tenancy Agreement’. After 12 months, you will be moved onto an Assured tenancy.
 

Before we buy your home, we need to look at how much debt you have and how much your home is worth, along with the cost of any repairs or other works that may need to be done. We need to do these checks to work out whether we can help you.
 

How does it work?

If you contact our Mortgage Rescue team, we will consider buying your home from you outright and renting it back to you as our tenant. If we do that, you will begin with an Assured Shorthold tenancy – what we call a ‘Starter Tenancy Agreement’. After 12 months, you will be moved onto an Assured tenancy.
Before we buy your home, we need to look at how much debt you have and how much your home is worth, along with the cost of any repairs or other works that may need to be done. We need to do these checks to work out whether we can help you.


Is it for you?

The Mortgage Rescue Scheme is not the best option for everyone, and it may be possible for you to get back on track with your mortgage payments without having to sell up. If you are having difficulty in paying your mortgage you should talk to your lender in the first instance. We also suggest you take independent advice from Shelter Cymru or the Citizens Advice Bureau to find out what options are available to you.

 

Who can apply?

You can apply for our Mortgage Rescue scheme if:

• Your home is in danger of being repossessed, and your lender has started legal action to repossess your home

• You can show us that you have tried all other options to deal with your debt

• You will be homeless if the property is repossessed

• The property is your only or main residence

• There are no legal reasons that would stop your home being sold

• You are unable to sell and buy a cheaper home locally

 

Priority will be given to families and to those where a repossession order / eviction warrant has been issued.

 

The Mortgage Rescue scheme is only available to people who live in the boroughs of Caerphilly, Blaenau Gwent and Torfaen.
 

What should you do next?

If you need help, please contact the Homelessness team or Housing Strategy team at:

- Caerphilly County Borough Council – 01443 873552

- Torfaen County Borough Council – 01495 742302

- Blaenau Gwent County Borough Council – 01495 357821

- Shelter Cymru - 02920 556120

 

The Homelessness / Housing Strategy team will go through your circumstances with you and if you qualify, the team will refer you to us.

 

For independent advice, get in touch with the Citizens Advice Bureau -

 

Please note: We can’t guarantee that the Mortgage Rescue scheme can help you. But if we can’t, we will explain why.

On the money - money advice

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