Repaying your mortgage should be your main priority. If you are having financial problems you must act quickly, even if the problems are only temporary. If you avoid the problem it will become more difficult to control your debt.

Dealing with debt is complicated. Get advice as soon as possible if you are having problems paying your mortgage . You could become homeless if you can't keep up your mortgage repayments.

• Act as soon as you know you have a problem
• Pay as much as you can
• Check if you have mortgage payment protection insurance
• Be realistic
• Get advice

Act as soon as you know you have a problem

Act straight away if you can't repay your mortgage, or you think you may have problems covering your monthly repayments. You may be able to solve the problem if you act quickly. The sooner you deal with the problem the more options you will have, and the less chance that you will lose your home.

Back to top

Pay as much as you can

It is essential to keep paying as much as you can realistically afford. This will help to stop your mortgage arrears from rising too quickly. It will also show your lender that you are trying to tackle the problem.

Keep up your mortgage payments even if you are under pressure to pay other debts as well. Losing your home through repossession would only make your debt problems worse.

Back to top

Check if you have mortgage payment protection insurance

Some people take out insurance which will keep up your repayments if you are unable to work because of:

• illness,
• an accident,
• redundancy.

It is usually included in your monthly payments. Check your mortgage payment protection insurance policy carefully.

Back to top

Be realistic

You may be tempted to take on a larger mortgage with another lender. This may allow you to clear your debts, but it can be risky. It can be difficult to afford a bigger mortgage even if the interest rate is lower. You may also have to pay arrangement fees if you switch mortgages.

Back to top

Get advice

Working out your options can be complicated. You may want to get independent advice before you decide what to do. An adviser may be able to help you to negotiate with your lender.

Many agencies have specialist advisers who can help you work out what option is best in your situation.

Back to top