If you are in this situation there are two steps you should follow:
Tell your lender as soon as possible: your lender will be sympathetic and will provide as much assistance as possible.
Check the help available to you: your repayments may be covered by an insurance policy or you may be eligible for government benefits or schemes which could help you to stay in your home.
Inform your lender
If you are having trouble paying your mortgage, or you think it will be a problem in the near future, you should inform your lender immediately. Your lender will be fair and work with you to find a repayment solution.
Some lenders have telephone helplines or debt counselling facilities to assist making contact. The sooner you contact your lender the better, so that action can be taken to deal with the difficulty.
If you can’t afford your full mortgage repayments you should talk to your lender and still pay what you can afford. This shows your lender you are committed to solving the problem and makes it easier for them to help you. There are several options that your lender may be able to consider including:
Reducing your monthly payments by lengthening the term of the loan.
Moving a repayment mortgage onto an interest-only basis, provided you understand you will not be paying anything off the actual mortgage.
Adding arrears to the outstanding mortgage amount rather than seeking immediate payment.
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