The Mortgage Debt Advice Service (MDAS) has received a cash boost of half a million pounds which will enable it to continue offering specialist and independent housing advice until 2015 across N.Ireland. The innovative pilot scheme is set to continue at a cost of approximately £150,000 for another 4 years and is backed by Housing Minister Nelson McCausland. Mr McCausland stresses that repossession should be ‘the last resort’ and urges anyone with concerns about their finances, debts and the prospect of losing their home to seek help.
Since 2009, 22% of those who have participated in the scheme have been saved from homelessness. The Housing Rights Service have reported that the number of properties at risk in Northern Ireland of repossession have tripled since 2009. This has accumulated amidst concerns that homeowners are seriously struggling to pay mortgages.
It is vital that anyone faced with repossession seeks urgent advice in addition to speaking to their lender to see what options are available. It is never too late to seek help to prevent the loss of your home.
If you are worried about losing your home and wish to contact a solicitor please contact our litigation department on 028 90 231770 or contact one of our solicitors below to arrange a free initial consultation.