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Paying for yourmortgage

How we can help if you have problems paying your mortgage

Support for you

If you're having trouble making your mortgage payments call us free on
0808 156 1158 as soon as possible so we can try to help you. Lines are open 8am to 7pm Monday to Friday, 9am to 1pm on Saturday. We'll be able to discuss your circumstances and could offer help to meet your individual needs.

In addition we have set up a facility with an independent money adviser, Payplan. This allows our borrowers to discuss their financial situation in confidence.

Payplan

Payplan is the UK's leading provider of free debt management arrangements. They have a range of solutions to solving debt problems and are experts in providing realistic and affordable ways of solving these problems for people in financial difficulty. They can help to keep people in their homes, repay their unsecured debts and reduce their expenditure. They also provide ongoing support so that everyone has the best chance of becoming debt-free and staying that way.

  • Call Payplan on 0800 280 2483

Important information

You should read the following factsheets for more information when you’re having difficulties paying for your mortgage:

Our costs and charges

If you are in arrears, we may charge you for any administration or legal costs which we incur. You will be informed about all charges which we may make.

Help and advice

What we will do

If you haven’t already contacted us about your situation, we will be in touch to discuss this with you. Depending on your circumstances, here's some steps we may take:

  • Arrange a new payment plan with you that suits both of us.
  • Look to change the date of your payments and how you make payments.
  • We may allow you to make payments over a longer period (this will reduce your monthly mortgage repayments).
  • We can arrange for a field agent to visit you and discuss ways of managing your finances. However please be aware that the cost of the visits may be charged to your mortgage account.

Before we take any action, we’ll provide you with a breakdown of how these actions work and we’ll also give you time to work out which is best for you. If we’re not in a position to offer these options, we will explain why. In addition to the actions above:

  • We'll provide you with a reasonable time to pay back the debt on your mortgage.
  • We can talk to an agency like Citizens Advice Bureau about arranging a payment plan for you, if you want us to.
  • We will only start proceedings to repossess your home if we are unable to solve the problem with you.

We could also agree to you remaining in the property in order to sell it yourself, if we can’t offer any of the above options.

What you can do to help

  • If we try and contact you about your mortgage, try to get back to us as soon as possible.
  • You need to make sure that you keep anyone responsible for your mortgage (and anyone guaranteeing the mortgage), up to date with what's happening.
  • If we agree a payment plan with you, try to keep to it, or tell us as soon as possible if there is a change in your circumstances which may affect the arrangements. If you don't make the agreed repayments, we might have to go to court to get any money you owe us or to repossess your property.
  • If you move to a new address or your circumstances change, make sure you keep us up to date.
  • You may want to check if you are eligible for any state benefits or tax credits which could provide additional income.
  • Check your mortgage payment protection policy (if you have one) to see if can help with your payments.
  • You may need to consider selling your home if you think that your situation is unlikely to improve.

You may want to talk to a professional adviser, such as a financial advisor or a solicitor, before you change your mortgage arrangements. We would strongly advise that you seek independent, free debt advice.

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If we can’t find a solution

What happens if we can't agree a solution

  • We may send a field agent to see you and discuss your financial circumstances. The cost of the visits may be charged to your mortgage account.
  • In some circumstances we may decide to go to court to start proceedings in order to repossess your home. We strongly recommend that if this occurs, you attend court and that you seek independent legal advice.
  • Starting court proceedings does not necessarily mean that we will repossess your home. We will keep trying to solve the problem with you. Repossession is a last resort.
  • If we are at the repossession stage, before this goes ahead, we will suggest that you get in touch with your local authority to see if they can find you somewhere else to live.

What happens if we repossess your home

  • We will sell it for the best price we can reasonably get and we will attempt to sell it as quickly as possible.
  • We’ll provide you with a reasonable time to remove your possessions from the home.
  • Any money raised from selling your home will be used by us to pay your mortgage and any other loans or charges.
  • Any money that is left over after this will be paid to you.

What happens if selling your home does not raise enough money to pay off your mortgage

  • If there is still not enough money from the sale to repay the whole of your mortgage, you will still owe us the amount that is left (this is known as a shortfall debt). We will tell you how much this is as soon as possible.
  • If you bought your home with other borrowers, each of you is responsible for all the money borrowed. This is true even if you normally only pay part of the mortgage.
  • We will contact you within 6 years of selling the property (5 years in Scotland) to arrange for you to pay back what you still owe.
  • We will take account of your income and outgoings when we arrange a payment plan for this shortfall debt with you. But if we cannot arrange a suitable plan, we may go to court to get our money back. You may have to pay additional court costs.
  • If a shortfall debt is not paid, it could affect whether you are able to get credit in the future.

What happens if you hand your keys over to us

Please be aware that if you are thinking about handing your keys back to us, you will still be responsible for paying the mortgage until the property is sold. In the event that your house sells for less than you owe, this will mean that your mortgage won't be fully repaid and you will still owe us the amount that is left. Please discuss this option with us before taking such action.

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Making a complaint

If you have concerns about how we have dealt with your case please use our complaints procedure to make us aware of any problems. We'll do our best to address things quickly and fairly.

Our complaints procedure meets the requirements of both the Financial Conduct Authority (FCA) and the Financial Ombudsman Service (FOS).

Issues to be aware of

Some companies may offer you new loans or even invite you to sell your property to them and then lease it back as a way of resolving your short-term financial difficulty. Please be careful, as such actions may not be in your best interests in the long term. We would advise that you seek independent advice before entering into any arrangement of this type.

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