A MORTGAGE rescue scheme has been launched across Cheshire West and Chester to help vulnerable homeowners during the credit crunch.
The new authority, working in partnership with Chester and District Housing Trust, the Citizens Advice Bureau and Liverpool-based Riverside Housing Association, will target households on incomes of less than £60,000 and where homes are valued at below £125,000.
It follows Government measures to help during the credit crunch, including supplying £200m to set-up a mortgage rescue scheme.
If homeowners have not found a solution to their mortgage problem, the situation will then be considered by one of Cheshire West and Chester’s housing options teams.
This will lead to an in-depth investigation by the Citizens Advice Bureau which could result in help being provided by Riverside, which could buy the property and rent it back at an affordable rent for at least a three-year period or take an equity share of the home which would reduce mortgage payments.
For details of the scheme, contact the council’s housing options team or visit the website www.cheshirewestandchester.gov.uk
