Support with Mortgage Interest Scheme
This scheme offers financial assistance with interest repayments
for those in receipt of state benefits, such as Job Seekers
Allowance and Income Support. Information on the scheme can be
obtained from the Job Centre Plus website at www.jobcentreplus.gov.uk or
via the Pension Service.
Homeowner Mortgage Support Scheme
This scheme provides support for homeowners who are facing
difficulty in meeting their mortgage repayments as the result of a
short term and temporary reduction in their income. Under the
scheme, the homeowner is able to postpone part of their interest
repayments for up to two years. To apply you must first speak to
your lender to see whether they would support an application to the
scheme. Further information on the scheme can be found at www.direct.gov.uk/hms
Other options available
In addition to the three government schemes, the following
options may also help reduce the burden if you are experiencing
mortgage difficulty;
• Renting out a spare room in your property
• Downsizing to a more affordable property
• Accessing debt advice - For free and impartial advice on how
to tackle debt, you can contact the National Debt Line on 0808
8084000.
If
you have explored these options , who should you contact
next?