Plaid AM urges use of mortgage rescue scheme
Plaid’s Social Justice Spokesperson Dr. Dai Lloyd AM has urged cash-strapped householders in Swansea to make use of the Assembly Government’s ‘Mortgage Protection Scheme’.
His call comes on the day that the Council of Mortgage Lenders (CML) announced that the number of homes in the UK repossessed by lenders last year rose by 54% to 40,000.
Dr. Lloyd stated:
“The difficult economic climate means that more and more households are finding it difficult in keeping up mortgage repayments, and as a result repossessions are soaring.
“Repossession is obviously a very stressful experience and the One Wales Government recognises this and I am very pleased that Plaid’s Housing Minister at the National Assembly, Jocelyn Davies, has announced £10m to support families in greatest need as part of the Mortgage Rescue Scheme.”
Dr. Lloyd added:
“If householders are eligible for assistance, a housing association can provide you with an equity loan so that your mortgage outgoings will be reduced or, if this is not suitable, the housing association can buy your home from you and you can continue to live there as a tenant.
“The housing association will be registered with the Welsh Assembly Government. The housing association will apply to the Welsh Assembly Government for a grant towards the cost of buying your home.
“I would urge anyone who is facing mortgage difficulties and in danger of having their home repossessed to contact their local council, Assembly, Shelter Cymru or the Citizens Advice, all of whom should be able to point you in the right direction.”
Diwedd/ Ends
Notes to editors:
To apply for the Mortgage Rescue scheme you must answer yes to all of the following:
- Your home is in danger of being repossessed. That is, your lender has started legal action to repossess your home;
- You will be homeless if the property is repossessed;
- The property is your only or main residence;
- The property is clear of any legal reasons that would prevent it being sold; and
- You are unable to sell and buy a cheaper home locally.
If you think that the Mortgage Rescue Scheme could help you, you should contact:
- Swansea Council on 01792 636000. Their homelessness team or housing strategy officers will be able to help you to get in touch with a housing association; or
- the Housing Directorate at the Welsh Assembly Government at:
Merthyr Tydfil Office
Rhyd Y Car
Merthyr Tydfil
CF48 1UZ
Telephone: 01685 729156 or 01685 729157
