If you are worried that you can't meet your mortgage or home loan repayments, you are in arrears or concerned that you might fall behind with your repayments, please contact your lender as soon as possible. Your lender should treat you fairly, and advise you what they can do to help you keep your home, with repossession as a last resort. They may be able to:
- reduce your payments for a set period
- charge you interest only for a while, if you've got a repayment mortgage
- give you a 'payment holiday'
- extend your mortgage term to reduce your payments
For more help and advice on mortgage difficulties you can download the leaflet Are You Worried About Your Mortgage?
If you think you will have to leave your home, and are at risk of becoming homeless, you should contact us for help. You can read more about our homelessness and housing advice service here.
Support for mortgage interest
If you receive certain income related benefits, you may be able to get help towards interest payments on your mortgage or home loan. This is called Support for Mortgage Interest (SMI). More information and how to claim can be found here support for mortgage interest.
Mortgage Breathing Space Scheme
Depending on your circumstances, and if you have equity in your home, the Mortgage Breathing Space Scheme can provide interest free secured loans between £2,000 and £15,000 to help with mortgage arrears and mortgage payments for up to 12 months. For more information you can visit their website Mortgage Breathing Space.
If you want to get in touch with us you can contact our homelessness and housing advice service:
- Call (01226) 773870 (please note our office hours are 10am to 5pm Mondays, Tuesdays and Thursdays, 10.30am to 5pm Wednesdays, and 10am to 4.30pm Fridays).
- Call in person at one of our offices where we can make your an appointment to see an adviser.