The Scottish Government offers two ways to help homeowners who have mortgage difficulties.
First, through the Mortgage Rights (Scotland) Act 2001, households who might otherwise become homeless when their homes are repossessed are given the breathing space they need to sort themselves out. The Act provides for debtors to request the court in certain circumstances to give them time to secure alternative accommodation or, where possible, repay any arrears and get their mortgage back on track.
For more information see the Mortgage Rights Act booklet.
Second, the Home Owners' Support Fund provides help to home owners in financial difficulty through the Mortgage to Rent and Mortgage to Shared Equity schemes. Under the Mortgage to Rent scheme we can arrange for a social landlord - such as a housing association or local authority - to buy your home and for you to continue to live there as a tenant. The Mortgage to Shared Equity scheme involves the Scottish Government taking a financial stake in your home. You will still own your home and continue to have responsibility for maintaining and insuring it. But you will be able to reduce the amount you have to pay to your lender every month. You can find out more about these schemes from the information leaflet.