Hafod Housing Association completes 100th Mortgage Rescue

Hafod Housing Association proudly announced the completion of their 100th mortgage rescue confirming their status as the UK's leading social mortgage rescue organisation.

Elgar Lewis, Hafod's Chairman, welcomed the success of the Associations mortgage rescue scheme:

"We are proud to have pioneered mortgage rescue in Wales from 2005 and to have helped 100 families avoid becoming homeless is fantastic news".

Hafod Housing originally funded mortgage rescues themselves and were recently financially supported by the Welsh Assembly Government Mortgage Rescue Scheme to deliver this product.

It is easy to think of mortgage rescue as an issue of mortgage arrears and repossession, however for the individuals involved Hafod have in effect ‘rescued their worlds'. They have enabled families to stay in their own homes within their own social networks and avoid becoming homeless. The social benefits of this scheme range from avoiding disruption to children's schooling, continued use of local health facilities, reduced debt and stress as well as individuals living in a properties and areas they chose themselves.

As well as helping 100 families avoid becoming homeless, Hafod have helped local authorities make savings, as they have not had to find alternative accommodation for them."

Mr J from Bridgend who was rescued by Hafod reported ‘It has made a huge difference to my life, I no longer have sleepless nights worrying about how I will pay the mortgage. It was the best thing I did.'