West Lancashire Council offer help to people struggling with mortgages

Jul 2 2009 by Michael Byrne, Ormskirk Advertiser

HELP is at hand for people struggling to pay their mortgages.

West Lancashire Council has signed up to the government’s Mortgage Rescue Scheme, which has been set up to help vulnerable families who are in danger of losing their home.

The initiative has been launched in light of the current recession, which is creating a challenging environment in the housing market. A number of factors, such as rising interest rates, mean that some homeowners are facing traumatic pressures and could ultimately find themselves homeless.

To deal with this crisis the Council is running the new scheme, which may prevent people from losing their homes if they are facing the upsetting experience of repossession.

The scheme can also help households who are in negative equity. Negative equity means that your mortgage is more than the value of your home.

Households that have debts that are up to 20% greater than the value of their home and meet the criteria can apply for the scheme.

To be eligible for the scheme your household must include someone in 'priority need' and earn less than £60,000 a year.

The value of your home shouldn’t be higher than £135,000, although applications can be considered on a case by case basis.

For more information on the scheme, visit the Homelessness Advice & Prevention section on the Council’s website, www.westlancs.gov.uk/ homelessness or visit www.direct.gov.uk.

Alternatively, contact the team on 01695 577 177.