If you find yourself in the difficult situation of not being able to make your mortgage repayments it is important you call us right away. We are committed to working with you, and we have a range of options that could make things easier depending on your circumstances.
Our team are trained to deal with payment difficulties and have lots of experience helping customers. They will look carefully at your individual circumstances, and treat you fairly and responsibly to help keep you in your home.
We will:
- Contact you, by writing or calling, as soon as possible to discuss your situation.
- Put you in touch with independent advice like the Consumer Credit Counselling Service (CCCS), if you want us to.
- Do what we can, working with you, to keep you in your home.
Depending on your situation, we may be able to:
- Arrange a new payment plan that works for you and for us.
- Change the way you make your payments, or the date you make them.
- Allow you to pay back your mortgage over a longer period of time (which could reduce your monthly payments); however, as interest is applied across a longer term, this is likely to increase the total amount payable.
- Change the type of mortgage you have.
We will always explain how any change would work and give you time to consider it. If we cannot offer any of these options, we will tell you why.
What you can do to help
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Talk to us as soon as possible if you are having problems with your payments.
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Seek independent debt advice.
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Make sure you keep any other people paying the mortgage, and anyone guaranteeing the mortgage, up to date with what is happening.
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Keep to the payment plan we agree with you, or tell us if there is a change in your circumstances which may affect the arrangement. If you do not make the agreed payments, we might have to go to court to get back any money you owe us, or to repossess your property.
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Check whether you can get any state benefits or tax credits which could help to increase your income. Click here to see the government's benefits advisor.
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Prioritise your debt - give priority to payments where non-payment has the most serious consequences for you. For example, failing to pay your mortgage or rent will eventually lead to eviction; non-payment of utility bills will result in being cut off. Click here for more information.
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You may have a purchased a payment protection insurance policy to cover payments on your loan or mortgage, during a period of accident, sickness or unemployment. Check to see if you have a live policy and if in doubt contact us or your insurer. If you are not insured, take a look here for more information.
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Tell us if you move to a new address.
To talk to an independent debt counselling charity who can provide FREE advice tailored to your individual circumstances, please ring the Consumer Credit Counselling Service helpline on 0800 975 9558 or visit their website at www.cccs.co.uk.
You can also contact the National Debt Line on 0808 808 4000 or visit Directgov's Mortgage help website.
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