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1. Overview

With rising interest rates, energy costs and general cost of living expenses, increasing number of homeowners are facing the real prospect of not being able to meet their mortgage repayments.

The Help to Stay - Wales scheme offers support for Welsh homeowners who are in, or facing, financial difficulty in paying their mortgage. Support is in the form of a shared equity loan. 

The aim of the equity loan is to reduce existing monthly mortgage payments to an affordable level.  This will allow homeowners to continue to live in and own their homes. It will also provide time for them to resolve their underlying financial issues, which may reduce the risk of repossession and homelessness.

For eligible applicants, the scheme will offer a financial assessment by an Independent Mortgage Advisor to determine the most appropriate course of action. This assessment will be based on the household's specific circumstances.

If the Independent Mortgage Advisor concludes that the most appropriate option for the applicant is an equity loan, then their application will be progressed under the scheme.

The support provided by the Help to Stay – Wales scheme is not classed as a subsidy as it does not meet the four limb criteria outlined in the Subsidy Control Act 2022.