Mortgage Rescue properties were privately owned but, due to the owners experiencing economic stress, GreenSquare has purchased the properties, carried out repair works where necessary, and the owners become tenants. We organise the tenancy document and carry out regular inspections.
People, who are on the verge of repossession, go to their Local Authority or the Citizens Advice Bureau, where they are advised of the scheme. The local authority carries out an assessment of the suitability of applicants, and, where suitable, they are referred to a lead Registered Social Landlord (RSL) who liaises with their mortgage lender. If the lender agrees, the case is put to us for our assessment. We rescue as many people as we can. We check this is the best solution for the applicant and, if it is, we check it is affordable and if the property is suitable. If it is, we progress the case.
Applications for this scheme have now closed.
GreenSquare Commercial Property Management,
Tel: 01249 466110