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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.

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.

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 Homeless Advice Team

You can also contact other services for advice

For independent help and advice, contact:
Citizens Advice Bureau
0870 120 2402

Consumer Credit Counselling Service
0800 1381111

Last updated: Tue 21 March, 2023 @ 10:47