Over the next two years, the CLG scheme aims to help several thousand households vulnerable to losing their homes through repossession.
Mortgage Rescue operates by bringing together local authorities, Registered Social Landlords (RSL), lenders and debt advice agencies. There are two key elements to the scheme. Firstly, shared equity – where the RSL provides an equity loan, enabling householders' mortgage payments to be reduced. Secondly, Government mortgage to rent - where the RSL purchases the property and the householder pays rent to the RSL at a level they can afford.
This new contract has been secured through Connells' existing partnership with King Sturge, a leading provider of property services to the UK industrial, office, retail, leisure, healthcare and residential sectors.
