Home Owners: Mortgage payment support

There are two schemes in operation to help home owners struggling to keep up with mortgage payments:

  • A Mortgage to Shared Equity scheme involves the Scottish Government taking a financial stake in the home of an owner who is in danger of being made homeless. Those eligible for Mortgage to Shared Equity must have at least 25% 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.
  • The Mortgage to Rent scheme helps people facing repossession to stay in their home as tenants of a social landlord (either the local authority or a housing association). The property is sold to a landlord and then rented back to the household. The scheme provides Government subsidies to the landlord to enable a social rent to be charged and for the property to be brought up to a decent standard of repair.

If you have any comments or if you would like more information, please contact us.