If you are having trouble paying your mortgage, we will try to help you.
- contact you promptly when you miss a mortgage payment
- do everything we can to discuss your circumstances with you to work out how we can best help you
- provide you with information from an independent advice agency about how to deal with problems paying your mortgage
- give you the name and freephone telephone number of the member of staff helping you
- give you reasonable time to contact us, provide us with the information we ask for and to consider your options
- give you details of charges we may make because of your arrears
- talk to an agency which gives debt advice (for example, Citizens' Advice), if you want us to
- only take legal action where you do not co-operate with us or there is no other reasonable option to resolve your arrears
What you can do to help
- tell us straight away if you are having problems paying your mortgage or think that you might experience problems shortly
- seek debt advice if you would like help with managing your finances
- respond promptly when we ask to talk to you about your mortgage
- provide us with details of your income and expenditure including payslips and bank statements, etc
- make sure you keep any other people paying the mortgage and anyone guaranteeing the mortgage up to date with what is happening
- if you tell us you can make extra payments to clear your arrears, be realistic about what you can afford
- check whether you can get any state benefits or tax credits which could help to increase your income
- if you have an insurance policy, check whether it would help with your payments
- tell us if you move to a new address
We might be able to
- change the way you make your payments, or the date you make them
- allow you to pay back your mortgage over a longer period of time (which would reduce your monthly payments)
- change the type of mortgage you have
- work with you to sell your home if you can no longer afford your mortgage
Costs and charges
If you are in arrears, we may charge you for reasonable administrative and legal costs. We will tell you the amount you will have to pay.
Taking legal action to repossess your home is a last resort and we will only do this if you do not work with us in trying to resolve your arrears or we can’t agree a reasonable solution with you.
If we start legal action to repossess your home we will tell you why we are doing this, give you plenty of notice in writing including explaining to you the process we will follow, what you need to do and what charges you may incur.
View our complaints handling procedure
Some companies may offer you new loans or even invite you to sell your property to them and then lease it back as a way of resolving your short term financial difficulty. Please be careful, as such actions may not be in your long term best interests. We would advise you to seek independent advice before entering into any arrangement of this type.
You may be thinking about handing your keys over to us. If you do this, you will still owe us any outstanding debt, and we would advise you to discuss this option with us before taking such action.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE