We understand how quickly circumstances can change and at times it can be difficult to keep up with your mortgage payments.
If you’re worried about your ability to pay or have fallen behind with your monthly payments, it’s important you talk to us, so we can understand how we can support you.
To help us get a clear picture of your household’s financial situation, complete an Income & Expenditure form. This information will help us find a solution that is affordable to you alongside your other commitments. Download a form here.
In the section below we explain how we will support you when you call and share some independent resources for you to look at, before or after you get in touch.
Take control of your situation
Debt can often seem overwhelming. It’s vital you take action as soon as you know you are struggling to maintain your payments.
- Speak to everyone involved in paying the mortgage and any mortgage guarantors; it’s important that everyone understands what is happening
- Complete an Income & Expenditure form; download one here. Think about your spending, split all outgoing costs into essential and non-essential items; can you make any quick changes that could save you money? Even small changes can add up every month.
- Get free independent financial advice; don’t struggle alone when you can speak to someone who wants to help you. Advice is available online, over the phone or face to face. A specialist debt adviser at an Organisation like PayPlan, can offer free independent advice on budgeting, maximising your income and can even talk to your creditors for you.
- Check whether you’re eligible for any benefits and claim what you’re entitled to
- Call any insurance providers to understand what help is covered by your policy
- And most importantly; talk to us, we want to help you
Prioritise your debts
Think about your finances as a whole; do you have several debts you are trying to manage, does it feel unmanageable? It’s important you prioritise your debts in order of the consequences of non-payment.
Priority debts are those that have the most serious consequences if you continuously miss payment; they aren’t always the largest debts or those with the highest interest rate, but could lead to imprisonment, the loss of essential services for living or your home.
These could include, in no particular order:
- Mortgage payments and any loans secured against your home
- Rent and council tax
- Child support and maintenance payments
- Gas and electricity bills
- TV licence payments
- Certain payments ordered by the courts
Non-priority debts are those where the outcome of failing to pay is often less serious. For example you cannot be imprisoned and you won’t lose your home, but your creditor may eventually take you to court.
These could include, in no particular order:
- Personal loans
- Credit cards, store cards or payday loans
- Any unsecured loans
- Money borrowed from family or friends
If trying to make sense of your financial situation feels overwhelming or you need more support, speak to someone. You are not alone; a debt adviser at an organisation like PayPlan speaks to people in similar situations every day. Since PayPlan started they’ve helped over 1 million people become debt-free, and every year they help over 100,000 more people with their finances.
To understand more about the potential consequences of not taking action quickly, please visit our 'Understanding Repossession' page.
When you call us
The sooner you get in touch, the quicker we can help you. If you’ve fallen behind with your monthly payments, or you’re worried about being able to make a payment in the future, our team is here to help.
We will talk through your current circumstances, so we can understand the best way to support you.
During the conversation we will:
- Ask you some questions about your current circumstances. For example, why you are struggling to pay your mortgage? If you’ve experienced a large unexpected expense or had a loss in earnings? We have a range of support options available, so it’s important we understand your circumstances to find you the right support.
- Want to understand your income and spending. Before the call, we recommend you complete an Income & Expenditure form; download one here. We want to make sure that any support we offer is affordable to you and you can manage the payments alongside your other commitments, so it’s helpful to understand your total household income and spending before you speak to us.
- Talk to you about the different types of support we could offer you. Once we understand your personal circumstances, we can discuss what options may be available to you; for example we may be able to offer you a temporary suspension of payments, temporarily change your repayment method to interest only, agree a bespoke payment plan or look at another support option that meets your needs.
- Ask you if you have contacted any of the independent money advice organisations, for example PayPlan. There are a range of independent organisations offering free impartial support and guidance on how to manage your debt(s); they may be able to help you, and if you want extra support, some will liaise with your creditors or the servicer of your mortgage, including us, for you. To read more about how PayPlan has helped support our customers; click here.
- Update your contact details. We are keen to keep in regular contact so we can be sure that any support we have agreed, continues to be suitable for you; up-to-date telephone numbers help us keep in touch.
We can't offer advice or help with any credit commitments or outstanding debts you may have with other organisations, visit our independent support and advice page for support