Difficulty paying your mortgage
We would advise that you to contact your mortgage lender straight away. There are various ways they may be able to help, such as:
- reduce your monthly payments for a certain period
- cut the charges they make for you being in debt with your mortgage
- extend the time of your loan (this reduces the amount of your monthly payments over a longer period, and so paying more for your home)
- spread repayment of the total amount you owe (inducing debts over the remaining period of your mortgage)
- put off part of your repayment, allowing you to make interest only payments (only if you have a repayment mortgage)
- offer you a better loan rate
- allow you time to sell your home, if that's what you want. Please think very carefully about this option because if you are then classed as homeless, you may not get help from the council if we consider that you have made yourself 'intentionally homeless'.
Please note that any changes to your mortgage can lead to penalties or charges which may cost you more to repay in the long term, so you may be best to seek advice before choosing any of the above options. Many solicitors offer free advice for the first hour.
If you are facing homelessness, you can complete the housing options assessment form, and we will be in contact to discuss your housing options. If you are unable to complete this form yourself, please call 01253 891000.