Advice for homeowners

If you’re finding it difficult to keep up with your mortgage payments, there are steps you can take to improve the situation and avoid it getting worse. Acting early gives you more options and makes it easier to agree a solution with your lender.

Speak to your lender

Contact your mortgage lender as soon as possible if you think you may miss a payment or fall into arrears.

Most lenders will consider temporary arrangements if they understand your circumstances. Ignoring letters or missed payments can make the situation more difficult and may increase the risk of legal action.

Depending on your situation, your lender may be able to:

• agree a temporary reduced payment
• offer a payment holiday
• switch you to interest-only payments for a period
• extend the mortgage term
• add arrears to the mortgage balance

Always ask your lender to confirm any agreement in writing.

Get housing advice

Our housing advice team can explain your options, help you understand your rights, and support you in dealing with your lender.

We may be able to:

• help you work out an affordable budget
• speak to your lender on your behalf
• help negotiate a repayment arrangement
• check whether you are entitled to benefits or other financial support
• support you if court action has started, including attending possession hearings where appropriate

Speak to a mortgage adviser 

An independent adviser can help you understand the longer-term impact of any changes to your mortgage and whether there may be better options available.

This is especially important before:

• remortgaging
• extending your mortgage term
• switching to interest-only payments
• using equity in your home to clear debts