What help is there for those with mortgages - or those who've lost their jobs?
The Homeowners Mortgage Support Scheme (HMS) monies have been increased, and the Income Support for Mortgage Interest (ISMI) has now been introduced.
Homeowners Mortgage Support Scheme (HMS)
This is an emergency scheme to help you if your income may have been lost over time, a partner has lost a job or you’ve a temporary setback in your finances.
The support is from your lender who, if they are part of the scheme, will delay some interest due and/or can help to reduce your payments for up to two years. Don’t get too excited though, you’ll still end up paying it all back later on, with interest.
For more information visit Direct Gov who have a List of lenders supporting the scheme.
The ISMI waiting period has been reduced to 13 weeks from April 2009. The help limit will be increased from £100,000 to £175,000, extended by six months.
This is basically where the government will step in to help with support for paying your mortgage. The scheme helps to pay mortgage interest payments if you have recently been made unemployed.
For more information visit Direct Gov.
Read these case studies to help understand if you might be eligible for these schemes.
If you are really struggling to keep up with your mortgage and are likely to lose your home due to long term financial problems, you may be able to benefit from the Mortgage Rescue Scheme.
Check out the mortgage calculator, loans, credit cards & savings comparison tools
Tell us about where you live, & see if your area makes the top (or bottom) 20
Compare current rates on loans, savings accounts, credit cards & mortgages with this handy tool.jpg){kind=small}
Our presenter could be popping round to your house for a consultation and a cuppa
.jpg)
Your Comments
Post your comment
Please note: In order to post a comment you need to be registered and logged in to Channel 4:
Sign In Here or Register Here
Comments closed
Comments are closed at the present time
Comments
Thank you for your comment!
Your message will be reviewed and the best ones will be published below.
If you intended to make an official comment to Channel 4 please contact us.
Comments