Get advice now
If you're struggling to pay your mortgage you need to act quickly.
If you are contacted by your mortgage lender about missed payments - or you don't understand a letter - you must contact your lender and try and sort out the problem.
You can also contact our Housing Choices Team. We can go through your housing options with you so you can find the best way out of the problem for you and your family.
You can also contact your local Citizens Advice Bureau or your local Shelter advice service.
It's important you get independent advice before making any hasty decisions, such as just giving up your home and handing the keys to the lender - or selling your home to an organisation who promises to rent it back to you and allow you to remain in your home.
The companies that offer buy-and-rent-back schemes are not regulated and the standard of service offered can differ widely. Most offer no security in terms of how long you can stay in your home - or the rent they will charge you.
Mortgage lenders should only take possession of your home as a last resort. They are required to go through all the alternative options.
For example they could lengthen the period of your mortgage to make the monthly payments smaller, change your mortgage to interest only for a short period or allow you time to sell your home, if this is what you want.
If you are experiencing difficulties paying your mortgage please contact our Housing Choices Team for advice. We have a modest sum of money to help prevent repossessions or evictions for households who are struggling to pay their mortgage or rent.
For independent help and advice, contact:
Citizens Advice Bureau
0870 120 2402
Consumer Credit Counselling Service
Last updated: Tue 1 December, 2015 @ 12:20