Government funding will help homeowners who have fallen into mortgage arrears are who are struggling to maintain their mortgages, avoid repossession. The funding has helped to provide help and advice for homeowners in the past and it has been revealed that it will continue to do so despite the recession being officially over.

The campaign has been extended after it was revealed that lenders expect the number of repossessions to increase this year. Councils believe that free and impartial advice and help may help many to avoid losing their homes. Last year around 330,000 homeowners took help and advice offered by the Government due to the funding.

If you are in mortgage arrears and you cannot repay them you might want to consider the option of being able to sell house and rent back with a sale to rent back agreement. There are companies who offer to buy and rent back the property to you and this may be one way of you being able to remain in your home and avoid losing it. However do not think that you will be able to stay in the house forever, as typically there is a rental period of 5 years.

If considering this option you may wish to ensure that you choose a company regulated by the Financial Services Authority.