Seven family homes saved from repossession

Published by lpriest for Progress Housing Group in Housing and also in Communities

A family from Chorley have been saved from the trauma of having their home repossessed thanks to affordable housing provider New Progress Housing Association.

The family was just days away from having their home repossessed in court, when New Progress staff stepped in and offered to buy their home as part of the ‘mortgage rescue scheme’ to save them from having to move out of their home.

Under the government backed scheme, New Progress was able to buy the house, and access funding for improvement works, enabling the family to remain in their home as tenants of the social housing landlord.

The family fromChorleywere on the brink of having their home repossessed after getting behind with their mortgage payments. The family were delighted to be offered the opportunity to remain in their long term family home and rent it back from New Progress. The mother of two, said: ”We were just so relieved when we were told we were eligible for the scheme, it felt like we had been pulled out of a black hole. I would encourage anyone who is facing repossession to see if they are eligible for the scheme.”

Bernie Keenan, Managing Director of New Progress Housing Association, said: “We’re delighted to have been able to help this family to keep their home and get back on their feet financially. We hope that we can provide this vital support to others in need in the future.”

“The purpose of this scheme is to prevent the most vulnerable home owners from losing their home. Anyone who is experiencing difficulty meeting their mortgage repayments should speak to their mortgage lender first.”

New Progress is in the process of buying its first seven properties under this scheme, with the assistance of capital grants from the Homes and Communities Agency.

The scheme has been designed to provide vital support to vulnerable homeowners who are facing difficulties in maintaining their mortgage payments.

The aim of the mortgage rescue scheme, wherever possible, is to keep people in their homes and living in the community where they can continue to benefit from existing support networks, including family friends and work colleagues.

To find out more about the mortgage rescue scheme go to www.direct.gov.uk and type in Mortgage Rescue Scheme.