Caerphilly county borough council is leading the way in Wales with its support for local people who are struggling to pay their mortgage.
The council operates a Mortgage Rescue Scheme intended to help homeowners who are having difficulty making mortgage payments. The current economic climate means that many people are facing financial hardship and for many homeowners paying the mortgage is one of the biggest concerns.
A special scheme was launched by the Welsh Assembly Government in 2007 designed to help struggling homeowners who may be facing repossession and the potential threat of homelessness. This is a multi agency approach where the council works with Shelter Cymru, United Welsh Housing Association and Charter Housing Association to offer solutions such as an equity loan or even the option of the housing association buying the property outright or on an equity share basis.
Cabinet member, Cllr Lyn Ackerman, said, “Many families are facing tough times at the moment due to the recession and we are trying to help out as much as possible. It’s great to see that Caerphilly has approved the highest number of mortgage rescue applications in Wales and this goes to show that our housing staff are working hard to support the community and keep local people in their own homes.”
If you think that the Mortgage Rescue Scheme could help you, you can call the council’s Housing Advice Centre on 01443 873582. We will assess your situation and then pass your details onto a Housing Association who may be able to help.
Alternatively, you can get in touch with Shelter Cymru on 029 2055 6120 who will pass your details onto the council.
