Mortgage rescue scheme

[borolad63]

Can anyone point me in thr right direction to find advice on getting mortgade rescue scheme.

 

I have applied to my local council, had a meeting, told to produce medical evidence from my doctor, which I did, but told that my medical problems were insuffient to qualify for MRS. (I am suuffering severe back pains after removal of slipped disc and trapped nerves which will not get better, Doctor called it digenerative back problems) Can I appeal? and on what grounds?

[sequenci]

Here is the qualifying criteria:

 

To be eligible for the scheme your household must include someone in 'priority need'. This could be:

 

 

•a pregnant woman

 

•someone with dependent children

 

•someone who is vulnerable because of old age or a physical or mental impairment

You’ll also need to meet the following criteria:

 

•your household earns less than £60,000 a year

 

•you don’t own a second home, including a home abroad

 

•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

 

•the value of your home isn’t higher than certain levels set for each region – ask your council about the level for your area

 

When you apply for the scheme, your local housing authority will talk you through some other criteria that you’ll need to meet.

 

 

Should you wish for further assistance give Shelter a call on 0808 800 4444

[borolad63]

Can anyone give advise on applying successfully for the mortgage rescue scheme.

I have tried but unsuccessfull.

 

 

borolad

[42man]

A search on google reveals that as of November 2009 it had only managed to help 1 in 30 of those who had tried using it....!!

[windowbox]

Hiya Borolad63

 

My partner and I were recommended to apply for the Mortgage rescue scheme by Picture's debt representative(!) who came round to see us last year.

 

We applied through our local Council (Nottm) had the house valued by 2 estate agents,

gave Shelter and the Council every bit of info on our finances down to almost the last penny and we were refused.

 

We were staggered bearing in mind that it was the only way for us to stay long term in our home.

 

Their reason for refusing us was that we would still have non secured debts even if it went through

- even though they knew we planned to go bankrupt at some point in the future.

 

Oddly enough I've been speaking to Shelter today on the phone to ask if they will attend our repossession hearing

and the chap I spoke to said I can see you applied for the MRS and were refused

I can also see that your partner didn't appear to take things seriously (no idea where that came from)

and that you hadn't divulged the full picture!

 

From our point of view it's a complete con!

[borolad63]

So where do we go next to find out more on how to appeal their decision to refuse an application for MRS

[littledotty27]

You could try contacting your local MP & see if he can help.

[fedupwithtrying]

i have applied for this too, however i could not apply until lender had started repossession procedings, the irony is i have been saying to my lender for over a year that i wanted the mrs and assumed that they refer us for this but they kept saying that they didn't know anything about it, i went to local council and they have said that it can take upto 6 months however my repossession hearing is in 12 weeks which considering you can't apply for mrs until notice has been served & it takes upto 6 mths & the judge can choose to evict in as little as 16 weeks in my case i can't help but think that the mrs is a complete and utter farce. I am looking at putting it on the market however it is in neg equity as well as mrs but not sure whether this is enough for the judge to stop kicking me & my 8 year old out, got no money or credit or debt apart from the arrears which are less than £10000, so repossession is pointless they might as well freeze my account & any charges/payments for 6 months while i try & sell or get accepted for this so called mrs. I asked my lender how many people had applied for the scheme through them & they said several thousand & i then asked how many had been accepted/successful and they said a big fat zero!!!!!!! so i think birmingham midshires need to be examined as to why this is so non existant.

 

I hope things work out for you I don't know what i am going to do either

[Wintry]

Hi

 

This scheme was very well intentioned however possibly not so well thought out at the outset with inter agency co-operation vital.

 

It has definitely helped a number of people though and is always worth a try however it can heavily depend on lender co-operation and can drag on for months and months (thats if you are lucky enough to get accepted in the first place)

 

I understand that the Mortgage Rescue Scheme (MRS) has had further funding confirmed (£200 million I think) to enable it to deliver a two year scheme to provide ongoing support to households facing repossession during the economic downturn.

 

I think they are looking at the need to close to new applications in the spring of 2013 with some funding available cases that are already in the pipeline at that stage (a bit worrying really as I have heard of a couple of cases that are taking up to a year to complete)

 

I understand they are hoping this could help 2500 households through the Mortgage Rescue Scheme - plus thousands of other households who will benefit from advice and support from their Local Authority or Money Adviser as a result of the scheme!

 

There are a number changes to the Mortgage Rescue coming in soon -

 

One of the changes concerns the 'Mortgage to Rent' option where the redemption price offered by the provider to the household will be reduced from 97% to 90% of the market value.

 

I have been 'lucky' enough to read through the 'changes' and to be honest it gave me the headache

Edited February 25, 2011 by Wintry

[Littledotty]

I wouldn't bother they are a waste of time!! There as bad as Capstone/Ascenden,they strip your equity with makeshift repair lists and should be renamed as the mortgage rip off scheme.

[Wintry]

Hi

 

News on The Mortgage Rescue Scheme

 

http://www.nao.org.uk/publications/1012/mortgage_rescue_scheme.aspx

 

http://www.communities.gov.uk/issuesandresponses/newsroom/1910261

[Wintry]

Hi

 

The word is that since the recent changes were brought in MRS take up could be described as a little 'sluggish'

 

Has anybody had any recent experiences or feedback etc on the MRS?

Edited June 29, 2011 by Wintry

[April1950]

I was told by my local council in November 2010 in writing that we qualify for the mortgage rescue scheme. We have waited 9 months only to be told it is not going to happen. The mortgage rescue scheme in my opinion is a waste of time or they are very choosy who they rescue.

[Wintry]

I was told by my local council in November 2010 in writing that we qualify for the mortgage rescue scheme. We have waited 9 months only to be told it is not going to happen. The mortgage rescue scheme in my opinion is a waste of time or they are very choosy who they rescue.

 

Hi April

 

Sounds like you might have had a long drawn out negative experience of the scheme which does not surprise me to be honest.

 

If you dont mind me asking - what reason(s) were given as to why you were told it is not going to happen?

 

Are you still in your home?

[April1950]

hI, we were not given any reason but I suspect its because we are too old 60 and 61! Yes we are still in our house and I have now written to our mortgage company with a plan! If that doesnt work out I am going to fill in a form 244 and present a case to the court to have a judge rule on our case as our circumstances financially and healthwise has changed dramatically and Im hoping I can appeal to the judges better nature in not having disabled persons evicted.

[Wintry]

hI, we were not given any reason but I suspect its because we are too old 60 and 61! Yes we are still in our house and I have now written to our mortgage company with a plan! If that doesnt work out I am going to fill in a form 244 and present a case to the court to have a judge rule on our case as our circumstances financially and healthwise has changed dramatically and Im hoping I can appeal to the judges better nature in not having disabled persons evicted.

 

Hi April -

 

Thanks for the reply

 

Its hard to really comment on the limited info provided.

 

Your age should not really have been a barrier though (read the link below regarding eligibility)

 

The MRS is basically a last resort as they expect potential applicants to have explored all other avenues with regard to staying in the property.

 

The above can be much easier said than done especially if you have a possession hearing or eviction warrant hanging over your head and all the stress and worry that goes with it.

 

Usually people have other debts also that need dealing with as part of the overall process, both pre - during and post Mortgage Rescue.

 

The MRS can be a stressful long drawn out affair for all concerned, with inter agency / lender co-operation paramount which does not always happen as smoothly as it perhaps should (understatement alert) - people can end up going to several court hearings with regard to adjournments etc

 

As I have said before a very good idea in principle and it has certainly helped a number of people but in the real world....well.

 

The new rules have not helped either in my opinion and I can see a 'rethink' somewhere down the line by the so called powers that be.

 

Heres a useful somewhat updated link from the directgov site on the scheme that gives the basics and other sources of help.

 

http://www.direct.gov.uk/en/HomeAndCommunity/BuyingAndSellingYourHome/Mortgagesandrepossessions/DG_174005

 

All the best April and lets hope everything eventually turns out ok for you.

Edited August 20, 2011 by Wintry