Archived Consultation

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The Department for Social Development has prepared a consultation document introducing a Mortgage Rescue Scheme. The Scheme is aimed at saving as many homeowners as possible from having their homes repossessed.  The proposed scheme intends to help people who have been unable to keep-up payments on their homes to stay in them.  It will do this through both preventative measures allowing more emergency advice to be provided thus helping people to explore the options open to them, and direct intervention. Two options under direct intervention are Mortgage to Rent which would be available to people who have no equity and cannot afford a mortgage payment and  Flexible Tenure, where the applicant will be offered an equity sharing option based on the amount that they can afford to retain.

 

Alternative formats of the consultation documents, including a hard copy, can be made available if required.