Mortgage Rescue
We have been informed that the Welsh Assembly Government's Mortgage Rescue Scheme is on hold, as a result we regret that we are unable to accept any new mortgage rescue cases until further notice. If your home has been threatened with repossession due to mortgage arrears we recommend that you contact your local Housing Advice Centre or Homelessness Department for advice and help.
On 10 June 2010 the Welsh Assembly Government announced that mortgage rescue will be eligible to those ‘applicants who are disabled and whose homes have been adapted to meet their needs
About Mortgage Rescue
Welcome to Wales' leading social mortgage rescue scheme. Hafod Housing Association pioneered mortgage rescue in the United Kingdom in 2005. Since starting this work we have built upon the model to deal with over 425 mortgage Rescue enquiries and have to date helped 110 families avoid repossession and homelessness.
"We were a lot better off financially 'cos we paid off our loans and credit cards. You feel secure because its housing association cos its Hafod."
Mr & Mrs L, Llanrumney, Cardiff - July 2009
Our mortgage rescue assistance has included shared ownership and fully rented options.
Our early mortgage rescue work was mainly funded through private finance with some help from using recycled Social Housing Grant.
In addition we helped other housing associations equip themselves to deal with mortgage rescue through a number of seminars.
The Welsh Assembly Government was interested in our work and eager to learn what we were doing. Following a briefing from us the Welsh Assembly Government announced their policy to support a streamlined and effective mortgage rescue package for Wales. Working closely with the Assembly we helped shape a successful Welsh mortgage rescue model.
Following the announcement of the Welsh Assembly Government Mortgage Rescue Scheme we were approached by four local authorities to help deliver this service for them:
• Bridgend
• Cardiff
• Merthyr Tydfil
• Rhondda Cynon Taf
We were also keen to provide feedback to the Welsh Assembly Government on their model and our comments in this regard have been taken on board. We are expecting a policy announcement on earlier intervention and a more flexible approach for vulnerable home owners.
"It's great that they provide the service and it is good to have the opportunities for housing at a reasonable price in Cardiff. The support received was great, Andrew Goss in particular made life so much easier, he was so impartial and helpful. Andrew Goss was always there in a friendly but professional manner, striking a good balance between the two and I still feel able to contact him for information."
Mrs N, Llandaff, Cardiff - July 2009
For more information about mortgage rescue please contact:
Andrew Goss
Home Ownership Officer
Hafod Housing Association
St Hilary Court
Copthorne Way
Culverhouse Cross
Cardiff CF5 6ES
Tel: 029 2067 5800
Email: andrewg@hafod.org.uk
