Gloucestershire Housing Association completes 1st Mortgage Rescue cases in the South West

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Gloucestershire Housing Association completes 1st Mortgage Rescue cases in the South West

3 local families in Gloucestershire have become the among the first in the country to be assisted by the Government's Mortgage Rescue Scheme.  The Scheme is designed to save the most vulnerable households from becoming homeless and facing the trauma of repossession.  It allows GHA to buy the property from those in mortgage difficulty and rent it back to them at an affordable rate.

One family member commented, "Everyone we have dealt with has been really good.  Because we are the first local case it has been quite a steep learning curve for all of us.  The deal means that the housing association now owns our home and we pay rent to them.  Our costs have been reduced with our stress levels. It is wonderful.

Gloucestershire County Councillor Andy Gravells, cabinet member for housing and health, said, "This is a superb outcome for this family.  This local family can now stay in their home and feel secure."

Dan Harvey from Gloucestershire Housing Association said “This is a milestone case for the South West and will pave the way for other vulnerable households to escape repossession. The scheme can be a lifesaver for those facing mortgage difficulties and can also give people access to a whole range of options to prevent homelessness from the Local Authority.”

Anyone wishing to find out more about the scheme should contact their local authority for advice in the first instance.