Mortgage Rescue Eligibility

To get help from the Mortgage Rescue scheme, you will need to meet the following criteria:

• you should have discussed all other options to meet your repayments with your bank or mortgage lender
• all owners of your home must agree to be considered for the Mortgage Rescue scheme
• you must have sought debt counselling and advice and agreed to arrangements to repay your debts
• your household must earn less than £60,000 a year
• the value of your home shouldn’t be higher than £140,000 (for amount in Yorkshire), although properties which exceed this cap will be considered on a case by case basis
• you must have a clear need to stay in your home
• your home must be suitable for your needs
• you shouldn’t own a second home (including a home abroad)
• the value of the part of your home that you own must be enough to pay off any outstanding debts, although 'negative equity' will be considered up to 120%.

To be eligible for the scheme, your household must include someone in 'priority need' such as;

• a pregnant woman
• someone with dependant children
• someone who is vulnerable because of old age or a physical or mental impairment.

If you do not think you qualify for Mortgage Rescue Scheme there may be other options for you. Speak to the Citizen's Advice Bureau or another money advice agency.