Homeowner Mortgage Scheme
This is designed to help households whose income has dropped because of the economic downturn, for example:
- if you have two part-time jobs and you lose one of them
- if your hours of work have been cut or you can no longer work overtime
- if you or your partner loses your job and your household relies on one income
To qualify for this scheme you must be able to show that your income has dropped and that you can no longer cover your current monthly payments. The money is not written off and you will have to pay it back eventually. If your lender is confident that this drop in income is only temporary, you must be willing to agree to pay as much as you can afford and at least 30% of the interest due. Your lender will decide what you can afford to pay.
If you require any further information or advice, please contact:
Housing Options Team
Telephone: 01264 368000