Money Worries

Managing your finances can sometimes become challenging. If you are worried about meeting your mortgage payments, or if you have any concerns over the future affordability of your mortgage, we are here to help.

What we will do:

The first thing we’ll do is get in touch to discuss your mortgage – we promise to treat you fairly and listen to your situation. From there we’ll work with you to establish what is affordable and if appropriate arrange a payment plan, allow you to change the way you make payments or agree to repay the mortgage over a longer period.

If none of these options are appropriate we will work with you to explore other potential solutions.

How you can help yourself:

It’s essential you keep us informed and provide us with up to date contact details.

Contact us as soon as possible, even if you think you may experience problems in the future. Once you get in touch we can work with you to try to find a suitable solution.

We’ve found that people don’t always consider checking to see if you’re eligible for any state benefits/tax credits or if they have an insurance policy that may help with payments.

You can also seek free, independent and impartial advice, details of some of these organisations are given below:

If we cannot agree a solution:

This doesn’t always mean we’ll start court proceedings - we may send a Field Agent to see you to discuss your financial circumstances.

If we do have to start court proceedings to repossess your home we strongly recommend that you attend court and that you seek independent, impartial advice prior to the hearing. We’ll continue to try to find an alternative solution – repossession is the last resort.

  • If repossession is unavoidable we will:
  • help you contact your local authority to see if they can find you somewhere else to live
  • sell the property for the best price we can obtain within a reasonable period of time
  • give you reasonable time to remove your possessions from your home

If selling your home does not raise enough money to pay off the mortgage:

Unfortunately, there are times where the sale of your home doesn’t cover the remaining mortgage. In that situation you will still owe us the amount that is left over.

We will contact you as soon as we can to tell you what this is and to work with you to arrange a payment plan. If this debt is not repaid it could affect whether you are able to get credit in the future.

If we cannot arrange a suitable plan we may go to court to get our money back.

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.

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