Homeowner support
The UK Government, working in partnership with the Welsh Assembly Government, is providing real help now for individuals and families in Wales affected by the global economic downturn. The support on offer for homeowners and potential homeowners is listed below.
|
Scheme/ Initiative |
Brief Description | Territorial Extent | Who to contact | Money |
| Mortgage Rescue Scheme | Extra £4.5m for housing associations to buy share of housing to help homeowners struggling to pay mortgage | Wales only. England has it’s own Mortgage Rescue Scheme | Local councils or housing associations. Plus,the Welsh Assembly Government’s Housing Directorate on: 01685 729156 or e-mail: shg@wales.gsi.gov.uk | Funded by Welsh Assembly Government |
| Affordable Housing Funding | £42m released to local authorities to build 500 more affordable homes | Wales only. England has it’s own Affordable Housing Funding | Local housing associations | Funded by Welsh Assembly Government |
| Support for Mortgage Interest Scheme | Extended to include mortgages up to £200,000, waiting period reduced to 13 weeks, aimed at workless households. This extension came into effect in January. | UK | Local Jobcentre Plus office. | Funded by UK Government |
| Stamp Duty Threshold | Stamp duty will no longer be applied to houses valued at £175,000 or less | UK wide | N/A | Funded by UK Government |
| Homeowner Mortgage Support Scheme | Homeowners able to defer interest payments on their mortgage for up to two years if they’ve experienced significant and temporary loss of income | UK wide | Participating lenders so far are: HBOS, Nationwide, Abbey, Lloyds TSB, Northern Rock, Barclays, RBS, HSBC | Guaranteed by UK Government |
| Council Tax Benefit | May be eligible for Council Tax Benefit – subject to income and capital (savings and investments) levels. | UK wide | Your local Council or Jobcentre Plus office. | Funded by Local Councils |
| Expansion of Free Legal Representation | Government Funded court desks available providing free legal representation at repossession hearings | England & Wales | Community Legal Advice helpline 0845 345 4 345 | Legal Services Commission, UK Govt funding |
| Expansion of debt and eviction helpline | Community Legal Advice helpline will expand the service from July giving advice on housing, debt, employment problems etc | England & Wales | Community Legal Advice helpline 0845 345 4 345 | Funded by Legal Services Commission |
| Civil Justice Council Protocol | Repossessions considered to be last resort, lenders have to demonstrate they discussed all options with struggling homeowners | UK wide | N/A | Funded by UK Government |
| Action on Second Charge Lending | OFT will bring forward new sector guidance to ensure borrowers treated sympathetically | UK wide | N/A | Funded by UK Government |