Struggling to pay the mortgage?

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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.

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.

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.

Repossession Prevention Fund

Our Housing Choices team has a modest sum of money to help prevent repossessions or evictions for households who are struggling to pay their mortgage or rent.

The Repossessions Prevention Scheme is one of several ways we can help prevent homelessness.

The Housing Choices team will negotiate with your landlord or mortgage lender and agree with them how much of the arrears they are willing to write-off and stop any repossession actions - provided the remainder is cleared by the Repossession Prevention scheme.

This ensures that you can remain in the property.

The maximum amount we can consider is usually no more than £3,000 and in most cases will be repayable by you on an interest free basis.

You can also contact your local Citizens Advice Bureau or your local Shelter advice service.

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

Consumer Credit Counselling Service
0800 1381111