'Breathing Space' offers an interest-free secured loan that provides help to pay your mortgage. You will have to repay the loan at the end of 3 years.
The loan offers only short-term help, so you should have an expectation that you will be able to afford your mortgage payments in the future, and that you will be able to repay the 'Breathing Space' loan.
The loan can pay your mortgage and/or your continuing mortgage instalments, secured loan arrears and instalments for up to 12 months, depending on your circumstances. You can apply to the scheme by contacting the Housing Options team (see contact details at the bottom of the page). The amount you borrow can be between £2,000 and £15,000. The amount you are offered will be decided by the local authority. Once referred, a detailed assessment of your application will be necessary, including:
- an assessment of your financial circumstances
- a credit reference search
- a property valuation
If you think you are at risk of your home being repossessed, view Government advice on repossession.
City of York Council operates a limited mortgage repossession fund - speak to our Housing Options team for more information.