Oldham is first to the rescue

OLDHAM Council has become the first in the North-West to save a local family home from repossession using the Government’s Mortgage Rescue package.

The authority volunteered to become a fast-track member of the scheme last year and has now completed its first rescue deal. The family concerned wished to remain anonymous.

The Mortgage Rescue plan, available in exceptional circumstances when eviction appears imminent, allows eligible families to either take an equity loan to reduce their mortgage, or sell their home and remain as tenants.

A free hotline number set up by First Choice Homes Oldham (0800 954 2789) has been contacted by 81 households so far and another three rescues are due to complete within the next few weeks — including what is potentially England’s first-ever ‘shared equity’ package.

Eight more applications are also still being assessed whilst three were unsuccessful.

As part of this scheme Oldham Council has also been working in close partnership with local agencies to offer wide-ranging advice and support, including negotiations with lenders.

These measures include a court desk service at Oldham County Court, to provide free representation and advice on the day of a repossession hearing often leading to ongoing support to manage debt.

In more than 80 per cent of the 120 cases handled to date, repossession has been suspended or the case adjourned for further work to take place.

Councillor John McCann, cabinet member for community services and housing, said: “Securing the region’s first Mortgage Rescue package is a major achievement and we were delighted to be able to assist this local family.”

Oldham Council was also praised by Housing Minister John Healey for utilising the scheme.


Oldhamers in trouble with mortgage payments who think they may be eligible for help should contact First Choice Homes Oldham on 0800 954 2789.