How does it work?
"Made a big difference, relieved a lot of stress when things go wrong with the house, all the pressures of how to pay and the lack of sleep, now we are debt free. Also, staying in the area and keeping the house."
Mr & Mrs T, Llanedeyrn, Cardiff - July 2009
On receiving a request to be considered for assistance, proof of legal action to repossess your home has started/is about to start is requested. When received, the relevant Council will be asked whether they will support your request. The Council will follow the Welsh Assembly Government criteria to determine whether to provide support.
Once received, a Valuation Report is organised, together with an inspection survey, and you will be asked to obtain and forward a Redemption Statement.
A financial assessment relating to the value of your home, debts outstanding, and the cost of any works required in the event purchase takes place will be undertaken. Colleagues in our Housing Management, and Maintenance, services will be asked for their view of the proposed purchase and future management implications.
A Recommendation is made to the Business Development Manager, and then a final decision is made whether to support the mortgage rescue or not. Our decision is communicated in writing. Where an Offer is made and accepted our Solicitors are instructed to proceed with the purchase of your home.
