If you’re struggling to keep up with repayments, here’s what to do.

Talk to your lender about alternative arrangements

Lenders have to treat you fairly and consider any request you make to change the way you pay your mortgage to help you. So, if the new payments are looking unmanageable, ask about ways to make them more affordable.

Solutions could include:

• extending the term of your mortgage
• taking a payment holiday
• accepting lower payments for a while.

When you discuss solutions with your lender, any conversations won’t appear on your credit file.

However, some solutions do, so always ask what the impact of any outcomes you agree will be on your credit score. Bear in mind, any impact is likely to be less than if you go into arrears and miss payments without talking to your lender first.

If you’re struggling to switch to a new lender, have an interest-only mortgage you can’t repay or want to discuss Equity Release Schemes, just get in touch.

We can discuss your situation and signpost you to free, independent, expert guidance to explore your options. Call us on 0800 138 1677 or start a webchat online  

If you have already missed payments

Keeping up with your mortgage is a priority that you need to look at before other bills and payments. Your lender will consider you to be in arrears if you have missed two or more payments.

If this happens, within 15 working days they must:

• tell you the total sum of your arrears
• list all the payments which you've missed or partly paid
• tell you the exact amount outstanding under your mortgage
• tell you the amount of any charges incurred because of missing any payments (and indicate any charges that may occur if the arrears aren't paid back).

Your lender must not seek repossession unless all other reasonable attempts to resolve the situation have failed, and they must give you reasonable notice before taking that action.

Don’t delay action. If you have missed two or more mortgage payments now is the time to get debt advice.