A new service has been launched by Sedgemoor District Council in conjuction with the Citizens Advice Bureau to help home owners in difficulty avoid repossession and stay in they homes. It’s been named the Repossession Prevention Loan Scheme and is funded throught a Government grant of £38,000 which will be used to give households a small, interest free loan.
To qualify for the loan, householders need to register with the Credit Union and agree to save an agreed amount each month. In return for that commitment, the scheme will agree with the lender to clear some of the outstanding debt so that the owner can remain in their home. It’s a great example of doing something positive, no matter how small, to keep home together.
