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Help to Buy

Payment Difficulties

We understand that everyone's circumstances can change. Whether it be a change to your job, personal relationships, health or other unexpected events, you may find that you're no longer able to keep up with your monthly mortgage payments.

Step 1: Talk to us

When you are experiencing financial difficulties, it can be tempting to ignore the problem and try to carry on as normal. However, it is essential that you talk to us as soon as you can - even if you haven't yet missed a mortgage payment.

What will happen in the telephone call?

When you call, you will get straight through to a friendly, experienced member of our team who will chat to you about your current circumstances. This is an informal discussion to help us gain a better understanding of your situation and, most importantly, what we can do to help. 

We may also ask you to complete a budget planner, available to download here, to help us better understand your monthly outgoings.

What do I need to prepare? 

It may be helpful to have a few payslips to hand, but the initial phone call is really just about making us aware of the situation. We recognise that discussing payment difficulties or a change in circumstances can be distressing, but we ask that you are as open and honest and possible, providing as much information as you can to help us find a viable solution. 

Who else can I speak to? 

We recommend that you also seek independent advice on your situation, and there are a number of organisations that provide a free and confidential service. These include:


 

Step ​2: REVIEW YOUR OPTIONS

Having reviewed your current situation, the next step is to discuss the different options available to you. Our aim is to find a solution that we are both comfortable with, and we will provide you with full details on how these options work, giving you enough time to consider any changes. Some of the options we may discuss with you are:

  • Arranging a new payment plan that suits both of us
  • Changing the way you make your payments or the date you make them on
  • Extending your mortgage term to allow you to repay your mortgage over a longer period, reducing your monthly payments
  • Moving you to an interest-only payment method for a short period of time, reducing your monthly payments
We will always give you reasonable time to pay back the debt. If you would like us to, we will also talk to an agency, such as the Citizens Advice Bureau, to assist in arranging a payment plan for you.

We're delighted that we were able to help you purchase a home, and the last thing we want to do is take that away. However, if we are unable to offer any of these options, we might agree to you remaining in the property to sell the property yourself. We will only start proceedings to repossess your home as a last resort, in the event we are unable to solve the problem with you.


Step ​3: ​Monitor the situation

Having decided upon a course of action, we will monitor your account and will keep in touch with you to see if your financial position has changed. We will also contact you if we notice that the terms of any arrangement have been broken, or if you are nearing the end of your arrangement and there are still arrears on your account.

If your situation changes in any way, please contact us to let us know so we can make sure that the the options we have agreed regarding your mortgage account are still appropriate.


Get in touch

If you're in any way concerned about your ability to continue making your mortgage payments, please contact us so we can begin to explore your options and try to find a solution. 

Just enter your details in the adjacent form and a member of our friendly team will be in touch.