Scottish homeowners have desperately sought help after repossession evictions went up 341%.
The mortgage crisis is driving demand for online advice, Citizens AdviceThis saw advice for those who are homeless, or at risk of homelessness attract its highest ever numbers in May 2023, and was up by 30% from May 2022.
It comes after the Bank of England increased interest rates to 5 per cent this week, the highest rate in 15 years and the 13th rate rise in a row since December 2021.This has left many struggling, including a former NHS nurse living with a brain injury. The woman had to quit her job due to illness triggered by the brain injury, resulting in her relying on Universal Credit, Personal Independence Payments, and an occupational pension as her sources of income.
Selling the property, repaying the mortgage, loan, and arrears, and seeking alternative accommodation was also suggested.After careful consideration, the client determined that a successful application for Support for Mortgage Interest would be her best option to manage repayments and improve her financial situation.
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