Mortgage debt and repossessions

If you are falling behind with mortgage payments it is important that you talk with your lender as soon as possible. Don't wait until your mortgage arrears become unmanageable. Your lender is more likely to consider other options if you negotiate at an early stage.

Your lender may:

• lengthen the term of your loan
• change to an interest only mortgage
• accept reduced or no payment for a short period of time
• offer you a better interest rate
• add the debt to the amount you borrowed. 

Mortgage problems can often be resolved without going to court. Repossessing your home is always your lender’s last resort and the law says that your lender must treat you fairly.

It is important that you stick to any agreements made with your lender. Mortgages are a 'priority debt' which means that you should pay them first. Look at your income and expenditure and reduce your spending on non-essential items.

Advice and help

You can check if you are eligible for benefits through GOV.UK - Benefits Calculators. 

You may be eligible to claim Support for Mortgage Interest (SMI). Find out more on GOV.UK - Support for mortgage interest. 

For budgeting and debt advice talk to the Citizens Advice Bureau, Advice Line, phone: 0300 330 9002  Monday to Friday, 10am to 4pm.

Shelter - How to deal with mortgage arrears, also has more information and advice.

Threatened with court proceedings

If your lender has started court proceedings, call us at Housing Options on 01332 888777. Ask for an appointment with a homelessness advisor.