If you are worried about keeping up with your mortgage, you are not alone, and acting early gives you the widest range of options to put things back on track.
Life can throw unexpected challenges that disrupt even the most carefully planned finances. When you take out a mortgage you usually expect to be able to meet the payments comfortably, perhaps even to overpay. But events like a sudden change in income, redundancy, illness, the rising cost of living or other hardships can make it difficult to keep up with your regular payments.
If you are struggling to afford your mortgage, it is important to look at your options carefully and act sooner rather than later. This can be an anxious time, but understanding the steps you can take, and knowing that help is available, can take away some of the worry.
The single most important thing is not to ignore the problem. The earlier you act, the more choices you tend to have.
Reach out to your lender as soon as you realise you might miss a payment, rather than waiting until you have already fallen behind. Lenders are expected to treat customers fairly and to consider reasonable requests to change how you pay. Open, early communication often opens the door to solutions such as:
Before you make any changes, it helps to talk things through with someone who can look at the whole picture. Speak to one of our advisers and we can explain the options that realistically apply to your situation.
Missing a payment can affect your credit file and may lead to charges, which can make future borrowing harder and more expensive. If you know a payment will be late, or you have missed one by accident, tell your lender straight away. You may still incur a fee, but being open about your situation usually makes it easier to agree a way forward.
If you fall behind, you go into what is known as arrears. This is more common than many people think, and lenders have processes designed to help you get back on track. Repossession is genuinely a last resort.
You do not have to work through this on your own, and free, impartial advice is available. Reputable, non-profit organisations can talk you through your options and, where appropriate, deal with your lender on your behalf. These include:
Be cautious of fee-charging firms that promise quick fixes. The organisations above provide their core help free of charge.
Support for Mortgage Interest (SMI) is a government loan that can help towards the interest on your mortgage if you receive certain qualifying benefits, such as Income Support, income-based Jobseeker's Allowance, income-related Employment and Support Allowance, or Pension Credit. It is paid as a loan secured against your home and is usually repaid when you sell or transfer ownership.
In Scotland, the Home Owners' Support Fund may be available to people who are struggling with mortgage payments and at risk of losing their home. A free debt adviser can help you check what support you might be entitled to.
In short, this is rarely a good idea. Most mortgage lenders do not accept credit card payments, and where a payment is possible it is often treated as a cash advance, which attracts a high interest rate from the moment it is taken. Using expensive short-term credit to cover a long-term commitment can quickly make your overall debt worse, so it is generally an unwise way to bridge a shortfall.
If you have fallen behind, there are several ways to deal with the amount owed, depending on your circumstances:
Some people consider raising funds in other ways, for example through savings, family support or an insurance policy. Before committing to anything, it is wise to take advice so you understand the full cost and the alternatives. An adviser can help you weigh these up.
If you are unable to catch up on payments and arrears continue to build, a lender may ultimately apply to the court for a possession order so the property can be sold to recover what is owed. This is a last resort, and lenders must follow strict rules and give you proper notice before taking court action. Even at this stage, getting advice quickly can open up options you may not be aware of.
Managing mortgage payments during a difficult period is stressful, but there are resources and strategies to help you through it. The key is to stay informed, act early, and get advice tailored to your circumstances. Talking to your lender and to an adviser sooner rather than later gives you the best chance of protecting your home and your long-term financial stability.
A friendly, no-pressure conversation can help you understand your options and find a way forward. Our advisers are here to help, not to judge.