Having difficulty meeting your mortgage payments each month?

If so, then you may be eligible to receive assistance from either of the two schemes below…

 

1. Mortgage Rescue Scheme

The Mortgage Rescue is a government initiative, which is in place to prevent vulnerable homeowners losing their homes through repossession. The scheme in Thanet is run by  housing association and incorporates two elements…

 

Shared equity loan

If you are eligible the housing association will provide an equity loan to reduce your monthly repayments. You will then pay a low monthly interest-only charge on your loan.

 

Government mortgage to rent

If you are eligible the housing association will purchase your home for 97% of its market value. You will then be able to remain in your home and pay rent to the housing association as a tenant. The rent will be 20% less than the current market rate for the area.

 

In both instances it must be proven that all other options have been explored before you are considered for the Mortgage Rescue Scheme and set criteria will need to be met.

 

Get more detailed information on the

Next Step…

If you want to be considered for this scheme or would like to discuss this further please contact the Housing Options Team on 01843 577277 or email housing@thanet.gov.uk

 

Housing Options Team

 

E-mail:

housing@thanet.gov.uk

 

Tel: 01843 577277

 

Fax: 01843 577340