The Government is currently working with Local Authorities and Housing Associations to set up local arrangements to help rescue homeowners in mortgage difficulty. This is called the Mortgage Rescue Scheme. If eligible it could enable a Housing Association to buy your home and let it back to you on a tenancy or sell it back on a shared/part ownership basis.

Strict eligibility rules have been set by the Government for those that wish to participate.

However, the basic rules attached to the scheme are:

1. Your household earns less than £60,000 a year
2. You don't own a second home, including a home abroad
3. Your property will need to be valued at less than £225,000 (although properties above this price may also be considered under certain circumstances)
4. The value of your mortgage (and any loans taken out against your home) is less than 120 per cent of the value of your home
5. You will need to be assessed by the local housing authority as a household in priority housing need (usually through having dependant children).

The scheme is a last resort option only so it is important that householders talk to their lenders about their situation in the first instance and seek help from a Money/Debt Adviser. Advice is available locally through the Citizens Advice Bureaux in Esher and Walton on Thames.

You can also contact the Council's Housing Options Team for further information and advice on the Governments Mortgage Rescue Scheme by calling 01372 474 4597.

A leaflet is also available entitled '|Are you Worried About Your Mortgage? Get Advice Now , published by the National Homelessness Advice Service.

Useful Contacts:

Walton, Weybridge & Hersham CAB
Elm Grove, Hersham Road
Walton on Thames KT12 1LH
Tel: 01932 248660

Esher & District CAB
Harry Fletcher House
High Street, Esher KT10 9RN
Tel: 01372 464770

Elmbridge Borough Council
Housing Options Team
Civic Centre
High Street, Esher KT10 9SD
Tel: 01372 474597