Scheme extended to help families struggling to pay their mortgage

The Welsh Government has announced an extension of a scheme which helps families that are struggling to meet their mortgage payments.

Jayne Bryant, Cabinet Secretary for Housing and Local Government, has confirmed the extension of the government’s Help to Stay Wales scheme 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.

Debt advisors

Homeowners who are eligible will receive mortgage advice from specialist debt advisors, with the costs fully covered by the Welsh Government.

Once the applicant has received independent advice as to the options available and it is confirmed that all other avenues have been exhausted, they can be offered 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.

In a statement confirming the 12-month extension, the cabinet secretary said: “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.”

Full guidance on the scheme, including the eligibility criteria is available at Help to Stay – Wales | GOV.WALES