Tweet
This is a useful site - if in Mortgage Arrears.
http://www.direct.gov.uk/en/MoneyTax...rs/DG_10013261
Mortgage arrears or payment difficulties:
If you can't meet your mortgage repayments, or you're worried you might fall behind, contact your lender as soon as possible. You can also get free independent advice from other organisations and you may be able to get help with your mortgage from new schemes starting in early 2009.
Contact your lender and agree a plan
Mortgage lenders are keen to help their customers sort out any payment difficulties. They may be able to come to a payment arrangement with you.
If you're struggling to make the payments
Depending on your payment history and whether your difficulties are likely to be long or short term, your lender might agree to:
If you're already in arrears
If you've already fallen behind, your lender will suggest a way to pay off the arrears gradually, alongside your usual payments. If you can't meet the extra payments, you may be able to delay them for a while or add them to your loan. Again, it depends on your track record.
Always pay what you can
Pay as much as you can manage every month. Keeping up regular payments (even if they vary) shows that you're committed. Your lender's more likely to treat you sympathetically and you'll minimise the arrears charges too.
You can find more mortgage payment advice from the National Homelessness Advice Service.
For more help and details, please click on the above link.
http://www.direct.gov.uk/en/MoneyTax...rs/DG_10013261
Mortgage arrears or payment difficulties:
If you can't meet your mortgage repayments, or you're worried you might fall behind, contact your lender as soon as possible. You can also get free independent advice from other organisations and you may be able to get help with your mortgage from new schemes starting in early 2009.
Contact your lender and agree a plan
Mortgage lenders are keen to help their customers sort out any payment difficulties. They may be able to come to a payment arrangement with you.
If you're struggling to make the payments
Depending on your payment history and whether your difficulties are likely to be long or short term, your lender might agree to:
- reduce your payments for a set period
- charge you interest only for a while, if you've got a repayment mortgage (usually you pay capital and interest)
- give you a 'payment holiday'
- extend your mortgage term to reduce your payments
If you're already in arrears
If you've already fallen behind, your lender will suggest a way to pay off the arrears gradually, alongside your usual payments. If you can't meet the extra payments, you may be able to delay them for a while or add them to your loan. Again, it depends on your track record.
Always pay what you can
Pay as much as you can manage every month. Keeping up regular payments (even if they vary) shows that you're committed. Your lender's more likely to treat you sympathetically and you'll minimise the arrears charges too.
You can find more mortgage payment advice from the National Homelessness Advice Service.
For more help and details, please click on the above link.
