How we can help
If you've fallen behind with your payments, we'll do the following:
- Attempt to contact you as soon as possible.
- Give you a reasonable period of time to pay back the debt.
- Talk to an agency which gives debt advice, for example Citizens Advice.
- Offer to send a debt counsellor to see you to discuss your financial circumstances. There’s a fee, but the cost of the visit may be added to your mortgage account.
- Attempt to arrange a new payment plan with you, taking both your interests and our responsibilities as the lender into account. If a plan is agreed, it’s important that you keep to it – or you tell us if there’s a change in your circumstances that may affect the arrangement.
- Offer to change the method by which you make your payments or the date on which you make them.
- See whether we can allow you to pay back your mortgage over a longer period of time to reduce your monthly payments.
- See if a change to the type of mortgage you have is available to you and if this will reduce your monthly repayments.
If we can’t offer you any of the options above, we’ll tell you why. If we’re able to offer one or more of them, we’ll explain how each option would work and give you time to consider it.
You may wish to talk to a professional adviser, such as a debt counsellor or a lawyer, before you change your mortgage arrangements. We strongly advise that you seek independent, free debt advice.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.