MS, Cabinet Secretary of
Housing and Local Government: One of this Government's key
priorities is providing opportunity for every family.
A secure home is the corner stone that provides the stability and
security for families to succeed. That's why I'm pleased to
have extended our Help to Stay Wales scheme which is designed to
assist those at risk of repossession or homelessness to stay in
their homes.
The economic climate over recent years has presented many
challenges to families across Wales. The number of mortgage
arrears remains alarmingly high, and the risk of repossession
leading to homelessness is a serious concern.
Our long-term ambition to end homelessness in Wales cannot be
achieved unless we continue to invest in early intervention,
prevention and support. The Help to Stay Wales scheme, which has
already provided much needed support for families and individuals
facing possession proceedings and even homelessness, has now been
extended for a further 12 months, until March 2026.
The scheme is available to eligible households who have explored
all other measures offered by their mortgage provider and sought
help through debt advice services.
Homeowners who are eligible will receive mortgage advice from
specialist debt advisors, with the costs fully covered by the
Welsh Government. This will ensure the applicant has received
independent advice as to the options available and confirm that
all other avenues have been exhausted before offering a partial
repayment of an existing mortgage balance via a low-cost equity
loan reducing revised mortgage repayments to a level the
applicant can afford.
Full guidance on the scheme, including the eligibility criteria
is available at Help to Stay - Wales |
GOV.WALES
