What to expect
It may sound obvious, but when you have missed payments, the best thing you can do is get your mortgage back on track.
Whenever you miss a payment you are in arrears and if you continue to miss these payments it means we can consider taking legal action against you.
However, we help personal customers every day to plan to pay back missed payments. At the start they sometimes feel their situation is impossible but, when they work with us they end up getting their mortgage back on track.
Here’s what you need to do now
Get in touch
When we write to you the best thing to do is to call us when you get our letter. The sooner you do, the sooner we can work out a plan. Our team have lots of experience and can explain the next steps, talk to us on 02890 821 682† option 1.
Income and Expenditure form
Next, you need to fill out your Income and Expenditure form to get a clear picture of your finances. If you prefer, one of our people will help you fill out the Income and Expenditure form over the phone. You’ll also have to give us other documents such as bank statements and payslips. The sooner you fill out the form, the quicker we can get to a solution.
Getting to the solution
Once we have your Income and Expenditure form and the documents we need, we will see what solution may be available to deal with your mortgage arrears. In most cases there will be a solution for you. For this to happen we need the form fully completed and any other documents we ask you for. That’s the only way we can come up with a solution.Getting to the solution
We agree a solution
In most cases there will be a solution for you. While every case is different some examples of solution are:
- Temporarily reduced payments - where the monthly payment amounts go down for a while
- Arrears added to total amount you owe -where the arrears amount is paid off over time
- Term extension - where the mortgage is paid off over a longer period
But by far the best and cheapest solution is to pay all your arrears. Whether you do that or we agree a solution, it means you have a plan and that’s always better than ignoring the situation.
If you’ve missed a payment on a personal product, it's really important to call us today, even if you can’t pay us today. If you do call us, we promise to be sympathetic and non-judgmental. We’ll help you to take action to give you the best chance of resolving your arrears as soon as possible.
Our staff have helped hundreds of customers to get finances back on track. We can also recommend to you service providers that can provide free independent debt advice. Access our Practical Guide to learn more about managing you mortgage payments, understanding your options and finding a solution.
† Calls may be recorded. Call charges may vary - refer to your service provider.