In this guide
1. Overview
The Help to Stay – Wales scheme can offer support to those who are either:
- having financial difficulty paying their existing mortgage
- facing financial difficulty paying their existing mortgage
The Help to Stay – Wales scheme offers support to homeowners in the form of a shared equity loan.
A shared equity loan is where a lender agrees to give you a loan alongside your existing mortgage lender in return for a share of any profits when you sell your house or repay the loan.
A shared equity loan can help reduce existing monthly mortgage payments to an affordable level and allow you to continue to own and live in your home. It will also give you time to resolve your financial issues, reducing the risk of repossession.
As part of the application process, eligible applicants will be offered the assistance of an Independent Financial Advisor who will carry out a financial assessment. The assessment will be based on your household’s specific circumstances and will help to determine the most appropriate option available to you.
If the most appropriate option is a shared equity loan and you are eligible for it, your application will be progressed under the scheme.