If you are having trouble making your mortgage repayments on time, we are here to help you. If you are worried about missing repayments, get in touch on 01664 414141 and let us know why you are having difficulties.
If you are experiencing financial difficulty, it is best to address the problem as soon as possible. Failing to make your mortgage repayments and repayments to other creditors can affect your ability to obtain further borrowing or credit in the future, and can even put your home (or other mortgaged property) at risk.
It’s a good idea to work out your monthly budget and you may find it helpful to complete an income and expenditure budget form. Click here to download a Simple Budget Form to give you a basic idea of where your money is going.
We understand that circumstances change and problems can be incurred from time to time, we will discuss the options available to you and help reach a solution to suit your circumstances. We may use a more detailed Personal Budget Sheet to help do this, click here to download a copy.
If you need help in completing this, please contact us on 01664 414141, Monday to Friday 9am to 6pm and Saturdays from 9am to 12pm.
If you have multiple debts, it can be difficult to know which to pay off first – especially if you are receiving letters or calls, which can make things seem even more urgent. Some debts are more important than others because the consequence of not paying them can be more serious.
Priority debts include:
If you need help in reviewing and prioritising your debts, you should seek independent advice.
If you have an interest only mortgage and are unsure whether you have sufficient arrangements in place to repay the capital balance at the end of your mortgage term, please speak to us so that we can help you review your repayment strategy and where necessary explain the options available to you. If your circumstances have changed since you took out your mortgage, we can offer a review with a Mortgage Advisor who can provide advice in relation to your long term mortgage arrangements and repayment strategy plans. You may also find the Financial Conduct Authority’s publication, Interest-only mortgages: act now and talk to your lender, useful. You can also find some useful information here: moneyadviceservice.org.uk
If you find yourself in financial difficulty, or if you have multiple debts, try contacting a not-for-profit debt-counselling organisation. They offer free, confidential support and may be able to help you prioritise your debts or negotiate with creditors.