Home Owners' Support Fund

MORTGAGE TO RENT

If you currently own your own property but are facing the possibility of your home being repossessed due to mortgage arrears, the Mortgage to Rent Scheme may be an option available to you.  It is a Scottish Government initiative through which a social landlord such as Wishaw & District Housing Association buys your property and rents it back to you. It means that you can remain living in your own home as a tenant.

The scheme is administered by the Scottish Government and there are strict criteria for eligibility.  In order to be considered and assessed for the scheme you need to be referred through a recognised debt advisory service such as The Citizen's Advice Bureau.

For more details on the Mortgage to Rent scheme you can download the leaflet here or alternatively visit the Scottish Government website.


MORTGAGE TO SHARED EQUITY

The Home Owners' Support Fund funds both the Mortgage to Rent and the Mortgage to Shared Equity Schemes.  There is a single application form and information leaflet covering both schemes.  You can download this here or alternatively visit the Scottish Government website.

If you currently own your own property but are facing the possibility of your home being repossessed due to mortgage arrears, the Mortgage to Shared Equity Scheme is an alternative option available to you.

Those eligible must have at least a 25 percent equity in their home and will retain ownership. They will enter into a Shared Equity Agreement with the Scottish Government, having had their secured debt reduced to a manageable level.  This scheme is aimed to help struggling owners who have equity but are cash poor.

The Association will have no role in this scheme.  Referral is also through a recognisable debt advisory service.