Help will soon be available to families who are facing the real possibility of losing their homes.
Salisbury District Council is just one of six local authorities in the south west to be fast tracked on to the government’s Mortgage Rescue scheme.
This will enable Salisbury District Council to work alongside local housing associations to offer home owners facing repossession an affordable way of staying in their homes.
When the scheme is up and running by early next year, eligible home owners will be offered two options. There will be the opportunity to own their homes on a shared equity basis, with a share of the house being sold to a housing association. This would mean cheaper monthly repayments for the house owner.
The other option to homeowners is to sell their home entirely to a housing association but remain in the home as a tenant, paying an affordable, below market level rent.
Salisbury District Council’s portfolio holder for Housing, Cllr Ian Tomes, said: “These are very difficult times for many people and I am very pleased that we can play a part in helping families keep a roof over their heads.
“Repossession is a tragedy for any family. We must do all we can to help families who are in this awful situation stay in their own homes.”
As part of the scheme, an independent Money Adviser will oversee the assessment of applicants.
Anyone who is facing difficulty paying their mortgages should contact the council’s Housing Advice team first. The council will then refer people on to the Money Adviser who will assess their application.
The council will also be contacting mortgage lenders to ensure they are aware of this scheme and how people can be referred on to it.
This new scheme complements another initiative introduced by the council earlier this year to help people who are facing losing their homes. In September, the council launched a Court Desk service at Salisbury County Court to offer free legal advice to people attending repossession hearings.
The leader of Salisbury District Council, Cllr Paul Sample, said: “The world economic recession and the chaos in the global banking system is having an affect on the lives of local people here in south Wiltshire. I am determined that Salisbury District Council should show strong leadership in time of crisis and act positively to support people who are facing repossession at this time.
“We have a duty to go beyond what is normally expected of a local council and find imaginative solutions.
“This scheme should help us to prevent homelessness and support people who are facing repossession through no fault of their own.
“Being able to stay in your own home is important. It helps families stay together and keeps them linked to extended families, social networks, employment and schools. Repossession really should only be a last resort and I want to stop that happening wherever possible.”
