Reducing repossessions in Rochdale
Rochdale residents who are struggling to pay their mortgage may be able to get help to stay in their own homes thanks to one of the best rescue schemes in the country.
Rochdale Borough Council, in partnership with Rochdale Citizens Advice, runs a Mortgage Rescue Scheme (MRS) which is recognised nationally as a leading service operating in a repossession hotspot.
Help and support has already been provided to over 500 households at risk of becoming homeless as a result of not being able to meet their mortgage payments.
And almost 60 homes have transferred from private ownership to housing associations meaning people who are having mortgage problems can continue to live in their homes.
This help has been provided with funding from the national MRS set up by the Government in 2009. Thanks to Rochdale’s success, additional funding has now been made available so that it can continue for another 12 months.
Penny Sharp, Director of Customers and Communities at the council, welcomed the additional funding and the support it will offer local residents.
“We know how stressful it can be for anyone who finds themselves faced with mortgage difficulties. The most important message to anyone who is struggling or at risk of losing their home is to seek help sooner rather than later.
“You don’t have to suffer alone. The chances of us being able to help you either through mortgage rescue or housing options are better the earlier we can get involved.
“Possession claims are the first step and do not necessarily mean the loss of accommodation – in fact early intervention makes this much less likely.”
Support to homeowners through the MRS can range from looking at short and long-term solutions through to negotiating between mortgage lenders and, in some cases, supporting people at court.
Anyone who is having mortgage difficulties, or who anticipates that they might in the near future, can call 01706 666108 for more information.