Government support schemes

The Debt Respite Scheme, or Breathing Space as it is also known, is a government scheme that allows applicants time to receive advice about their debts (including mortgage arrears) and find a solution to their debt problems.

During a Breathing Space moratorium, most creditors will freeze interest on unsecured debts and stop charging interest on mortgage arrears for a period, typically up to 60 days. They’ll also usually stop all collection and enforcement action over the same period.

This means a customer would not be required to make any payments toward unsecured debts or mortgage arrears that are covered under the Breathing Space moratorium. However, a customer will still be expected to make their regular monthly mortgage payments and any other payments towards debts not covered under the moratorium.

The scheme is not available to everyone, and you can only apply for Breathing Space through an independent debt adviser.

For more information about the scheme, please follow one of the links below to speak with a free and independent debt advice agency:

• Money Helper
• StepChange
• Payplan

The Housing Loss Prevention Advice Service is a government-provided service that offers free legal advice to customers in England and Wales who have received written notice that their lender is seeking possession of their home. A housing expert will speak with you to explain the options available and why you might be at risk of losing your home. If you are required to attend a court hearing they may be able to represent you.

The housing expert may be able to provide free legal advice on a number of topics including;

• Mortgage arrears.
• Debt concerns.
• Issues with welfare benefit payments.
• Disrepair and other problems with housing conditions.

You can find out more and search for your nearest housing expert at gov.uk/get-housing-loss-advice

Please note – the Housing Loss Prevention Advice Service is only available to owner-occupiers in England and Wales. This service is not available to landlords.

The Mortgage Charter is a voluntary scheme set up by the Government for active lenders to help mortgage borrowers struggling with their payments. It sets out the standards that lenders will adopt when helping residential mortgage customers who are up to date with their payments and who don’t rent out their property to tenants.

As Hyalite Mortgages is closed to new business and not an active lender, we’re not permitted to sign up to the Mortgage Charter.

However, we’re still committed to helping our customers in any way we can, and the support we can provide is similar to the options offered by other lenders who have signed up to the Mortgage Charter.

Read more about the support we can offer that’s aligned to the Mortgage Charter.