L&Q completes first Mortgage Rescue in London

The £200m Mortgage Rescue Scheme was launched across England in January by the Government and is aimed at helping 6,000 families who are currently most at risk of repossession remain in their homes. L&Q agreed to provide Mortgage Rescue as an option for local residents within its Homebuy area; this involves all London boroughs in the South. The Mortgage Rescue Scheme is operated by the Government’s Homes and Communities Agency (HCA).

The case announced today is a ‘mortgage to rent’ case in Greenwich, South East London.

David Gannicott L&Q’s Director for South London, said “L&Q is committed to practical action to help those most affected by the current state of the housing market. We are pleased to be a part of a scheme that offers a secure home for people facing the threat of being homeless. Working with the Government and Greenwich Council, the help we are providing here means that someone facing an uncertain future can now have the peace of mind of being able to keep their home.

“L&Q provides high quality homes and services and by joining the Mortgage Rescue Scheme we are offering another important safety net for when people need it most. By working with local authorities we can identify and help local families in need so that they can stay in their home. “

Housing Minister Margaret Beckett said: “We are determined to do all we can to ensure repossession is a last resort and it is heartening to know that this family can stay in their home thanks to the efforts of L&Q, the local council and all who have worked tirelessly to make this happen.

"The Mortgage Rescue scheme is just one of a range of measures we have put in place to help those at risk of repossession, though for anyone who is concerned about their mortgage they should speak to their lender or seek financial advice as soon as possible."

Find out more about this case by downloading the press release.