Money worries

Whilst we’d all like life to be straightforward, we understand that it can have its fair share of ups and downs. If at any point during the lifetime of your mortgage you struggle with your payments, we’re here to help you. By talking to us early, you’ll start to feel back in control of your finances.

• Give us a call

  Firstly, you’ll need to give us a call on 0800 169 9722*. Depending on your situation, we may be able to agree a quick solution with you there and then for getting things back on track.

  However, we understand that every situation is different and it may not be as simple as agreeing a quick solution. If this is the case, we’ll ask you to complete our income and expenditure form to get a better understanding of your current financial situation.

• Discussing your options

  Once you’ve returned the completed income and expenditure form and any relevant documents, one of our team will contact you. They’ll work with you to understand your individual circumstances and discuss the options that may be available to you.

  Should you want us to talk to someone else regarding your circumstances, we’re happy to do this as long as you’ve provided us with authorisation to speak to them. To do this, you’ll just need to complete our Third Party Authority form.

  During our call, we’ll:

  • Discuss your situation to help us understand why you’re having difficulties
  • Explore practical solutions that you can afford
  • Tell you about free debt organisations that you can speak to if you need more help

  If you’ve fallen behind with your payments, we’ll:

  • Give you a reasonable timeframe for you to repay the shortfall
  • Arrange a realistic and affordable payment plan with you that takes into account your financial circumstances and our responsibilities as a lender
  • Offer to send a Field Agent to discuss your financial circumstances

  If we’re not able to offer you any of the options above, we’ll tell you why. If we’re able to offer one or more options, we’ll explain how each option would work and give you time to consider it.

• Ongoing support

  Once we’ve agreed a way forward, we’ll continue to review your mortgage regularly. If we’ve agreed a payment plan, we’ll undertake regular reviews with you to ensure that it remains affordable. We’ll also get in touch if things have changed (for example, if you’re nearing the end of your arrangement and there are still arrears, or if the terms of the arrangement have been broken).

  If your situation changes in any way, please get in touch to let us know at the earliest opportunity. This means we can discuss your circumstances and explore any appropriate options.

• I’m in arrears or having difficulties paying my mortgage, what should I do?

  We’re here to help as much as we can. Please call us on 0800 169 9722 (Monday to Friday 9am – 5pm) as soon as possible so we can take you through your options.

  We may require you to complete our income and expenditure form to help us get a better understanding of your financial needs.

• I’m fine at the moment but may have difficulties paying my mortgage soon, what should I do?

  Help is a phone call away. Just call us on 0800 169 9722 (Monday to Friday 9am – 5pm) as soon as possible to discuss your situation.

• What else should I do in the meantime?

  If somebody else is equally responsible for the mortgage payments, or guaranteeing the mortgage, ensure they are aware of what’s happening.

  And if you have mortgage payment protection insurance, you should check whether it could help with mortgage payments. It’s also worth checking whether you’re eligible for state benefits by referring to the Department for Work and Pensions.

• If I’m in arrears, will I incur additional fees?

  There may be a charge for administrative and legal costs. We’ll let you know about any charges or costs that you’ll need to pay. Please see our Tariff of Mortgage Charges for more details.

• What will happen if we can’t agree a solution?

  If we can’t agree on what to do next over the phone, then we may send a Field Agent out to meet with you and discuss your situation. This service will be charged to your mortgage account.

  Depending on the severity of the situation, we may start proceedings to repossess your property through the courts.

• Does that mean my home or property is at risk?

  The mortgage loan is secured on your home or property. This means it is at risk if you do not keep up with the monthly mortgage payments. If this happens, it may mean going to court to start court proceedings to repossess your home or property. Starting court proceedings does not necessarily mean that we’ll repossess your property. We’ll keep trying to resolve the matter with you. Repossession is absolutely a last resort.

• What should I do if you start proceedings to repossess?

  We strongly recommend that you attend the court and that you seek independent debt advice.

• What happens if my home or property is repossessed?

  Before we repossess your home or property, we’ll give you information about getting in touch with your local authority to see if they can find you somewhere else to live.

  When it comes to the sale, we’ll sell the property as soon as possible for the best price we can reasonably get. We’ll also give you reasonable time to take your possessions from your home. The money raised from selling your home or property will be used to pay your mortgage and any other loans secured on it. If there’s any money left over, we’ll pay it to you.

• If the sale doesn’t raise enough money to pay the entire debt, will I need to pay the shortfall?

  Yes, you’ll still owe us the shortfall. We’ll let you know the amount as soon as possible. If you bought your home with other borrowers, each of you is responsible for all of the money borrowed. This is true even if you normally only pay part of the mortgage.

  We’ll take into account your income and outgoings when we arrange a payment plan with you for the shortfall, and you might have to pay the court costs. Not paying off the shortfall could affect your ability to obtain credit in the future.

• I want to make a complaint as I feel I‘ve been unfairly treated, how do I do this?

  If you believe you’ve been unfairly treated, you can view our complaints policy. If you’ve been unhappy with our service, please tell us so we can address your concerns and improve our service.

Worried about keeping up with repayments on your mortgage? You can download free copies of the following guides for information, tips and advice:

• Money Advice Service’s ‘Problems paying your mortgage’ is available in English and Welsh
• National Homelessness Advice Service’s ‘Are you worried about paying your mortgage?’ guide.

The following websites also provide free independent information and advice on housing and debt management:

• Citizens Advice Bureau provide information and advice on consumer rights – including benefits, housing, employment, debt, consumer and legal issues.
• Step Change is a registered debt charity, dedicated to assisting and supporting people in financial difficulty by providing debt counselling advice.
• Direct.Gov is the government website providing information and advice on housing, financial support, benefits, debt management and government schemes.
• Money Advice Service is a government service funded by a levy on the financial services industry. The service provides clear, unbiased money advice to help people make informed choices about their finances.
• National Debtline is a charity providing both online and telephone debt advice.
• Payplan is a free debt advice and debt management planning service.
• Shelter is a charity that works to alleviate the distress caused by homelessness and bad housing. Shelter cannot house people, but they do give advice and information to people in housing need.