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Help with mortgage payments

Worried you can’t make your payments?

If you’re concerned that you won’t be able to make your mortgage payments, there are a number of ways that we can help. That’s why it’s really important that you get in touch as soon as you can.

Call us on 0800 022 4022 1.

Your home may be repossessed if you do not keep up repayments on your mortgage.

 

What to do now

When you’re struggling financially, it’s understandable that meeting your mortgage payments is going to be a big concern. But we’ve helped thousands of people like you find a way to manage their mortgage despite financial difficulty. If you have a Shared Ownership property, you’ll need to speak to your Housing Association if you’re struggling to meet your payments.

How we can help

Depending on your circumstances, we may be able to offer an alternative mortgage payment arrangement to help you continue to meet your payments.

  • Extend your mortgage term – this will allow you to reduce your monthly payments by paying your mortgage back over a longer term
  • Reducing your monthly payments for a set period of time, we may be able to reduce your monthly payments

Although these payment arrangements would reduce your monthly payments now, they will increase the overall cost of your mortgage.

That’s why we’ll give you time to consider the arrangement we suggest, and why we recommend you get impartial financial or legal advice before making any changes to your mortgage.

Get free and independent advice

At the same time as talking to us about your financial concerns, we recommend that you take independent debt advice to help you understand your options and manage your finances. There are a number of organisations that provide free, professional advice:

Depending on your circumstances, you may also be able to get help from the government .

Avoid short-term solutions

Some companies offer loans specifically to cover mortgage problems. They may even offer to buy your home and then rent or lease it back to you. But loans like these can be very expensive and are usually secured against your home, so you could be putting it even more at risk. We strongly recommend that you get independent advice before considering any arrangements like this.

Why it's important to get in touch

It can be tempting to just hope things will get better when you’re struggling financially. But missing your mortgage payments will lead to serious consequences, so it’s important that you contact us as soon as possible.

If you don’t take action, your credit score, and your ability to get finance in the future, will be severely affected. If you bought your home with other people, or if you have a guarantor, they’ll also be held responsible for all of the money borrowed for the mortgage – even if you’re the only one that makes the payments.

If you continue to miss payments, we’ll start legal proceedings to recover what you owe. That could, as a last resort, lead to us repossessing your home. And if the proceeds from the sale don’t cover what you owe, you’ll still have to repay the shortfall.

Call us on 0800 022 4022 1

 

 

If you’re unhappy with our arrangement

If you’re not happy with the mortgage payment arrangements that we’ve offered, you can find out how to complain .

If you’re not happy with how we’ve handled your complaint, you can contact the Financial Ombudsman Service , which provides a free, independent service.

We’re here to help

If you have a question about your mortgage payments, choose how you’d like to get in touch – online, in branch or over the phone.

Call us on

0800 022 4022 1

Visit a branch

Important information

  1. Lines are open Monday to Friday, 8.30am-5.30pm. To maintain a quality service, we may monitor or record phone calls. Call charges.