If you own your home and are in danger of having it repossessed, the Scottish Government operates two schemes, as part of the Home Owners’ Support Fund, to help owners who are experiencing difficulty in paying any loans that are secured against their property.
These are:
- the Mortgage to Rent scheme; and
- the Mortgage to Shared Equity scheme.
Under the Mortgage to Rent scheme it can be arranged for a social landlord – such as a housing association or local authority – to buy your home and for you to continue to live there as a tenant.
The Mortgage to Shared Equity scheme involves the Scottish Government taking a financial stake in your home. You will still own your home and continue to have responsibility for maintaining and insuring it. But you will be able to reduce the amount you have to pay to your lender every month.
workplacewellbeing.com assumes no responsibility for the content of linked websites.
