Help in hard times

Hull residents who are struggling to pay their mortgage and are at risk of losing their home through repossession can now find help – through the Mortgage Rescue Scheme.
Hull City Council has teamed up with the government to offer the scheme, which provides assistance in a number of ways to residents who meet the eligibility criteria.
To qualify you must have an income under £60,000, be under threat of repossession, your property must be valued at £140,000 or less and you must have a priority need (someone in the household is pregnant, elderly, disabled, has a long term health problem, or have dependent children).
The scheme can help people reduce their monthly repayments by providing a loan from a housing association in return for a share of their home's equity.
The scheme also allows residents to sell their property to the housing association outright, and then remain in it as tenants on supported rents.
"The economic downturn has increased the number of people who are facing the serious risk of repossession," said Steve Richmond, Hull City Council's housing services manager.
"Home owners are urged to contact their lender as soon as they start to experience difficulties. Ignoring the problem can increase the risk of losing your home."
Residents can be referred to the scheme by the Community Legal Advice Centre, their mortgage lender, or they can contact the scheme direct.
For more information call 300300.