Decision details
Mortgage Rescue Scheme - Mortgage Breathing Space
Decision Maker: Decision Session - Executive Member for Finance and Major Projects, Executive Leader (incorporating Housing & Safer Neighbourhoods))
Decision status: Decision Made
Is Key decision?: No
Is subject to call in?: Yes
Purpose:
Purpose of Report: To extend the Breathing Space Mortgage Rescue Scheme to 55+ who are in danger of losing their owned home because their mortgage term is coming to an end and they have not repaid all of the capital borrowing and do not have the means to do so.
The Executive Member is asked to agree to the request to extend Breathing Space (Mortgage Rescue Scheme) to over 55’s which is managed by Wakefield MBC.
Decision:
Resolved: That option 1 be agreed.
Reason: To extend the Breathing Space Mortgage Rescue Scheme to home owners aged over 55 to continue interest only mortgage repayments to prevent the loss of their home.
Report author: Catherine Loseby
Publication date: 04/04/2016
Date of decision: 04/04/2016
Decided at meeting: 04/04/2016 - Decision Session - Executive Member for Finance and Major Projects
Effective from: 07/04/2016
Accompanying Documents:
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