Payment difficulties 

We're here to help you get back in control of your finances

If you're facing temporary challenges, such as unemployment or short-term illness, we can offer support for a limited period through the options listed below:

• Changing your mortgage product: by changing your mortgage product, you could reduce your payments. If you’re on a variable rate mortgage, you could fix your rate which would give you certainty for a set time. Remember, your mortgage might have early repayment charges (ERCs) that apply. If you choose to look at other mortgage products, we can help you see if changing could help.
• Reduced payments: we can reduce or stop your payments for a little while, to get you to a point where you can start full payments again. This will show as arrears on your credit records, and we’ll need to make an arrangement for you to repay the missed payments once your situation improves. We’ll continue to charge interest on the mortgage even when payments are temporarily suspended.
• A temporary payment of just the interest: we might be able to move you temporarily to an interest-only mortgage for a short time. This will reduce your payments but it’s important to remember that you won’t be paying back any of the original amount borrowed, so you’ll need to repay it in the future which will mean your payments increase.

Where you are experiencing longer-term difficulty in paying for your mortgage, such as if there has been a relationship breakdown, a bereavement or a long-term illness we can look to support you using the below options:

• Changing your mortgage product: by changing your product, you could reduce your payments. If you’re on a variable rate mortgage, you could fix your rate which would give you certainty for a set time. Remember, your mortgage might have early repayment charges (ERCs) that apply. If you look at other mortgage products, we can help you see if changing could help.
• A mortgage term extension: if you have a repayment (i.e. not interest-only) mortgage, spreading the repayments over a longer period of time will lower your monthly payments. However, it means that you'll have a mortgage for longer and pay more interest than originally planned. But you can always reduce your term again in the future if things improve for you.
• Capitalisation: treat the payment shortfall on your mortgage as if was part of the original amount provided and then repay the payment shortfall over the remaining term of your mortgage.
• An option to sell: if you don’t expect to be able to afford the mortgage in the long term, we can give you time to sell your property, and help you along that process by holding off any action. To further support, if you need help setting up the sale of your property, we can appoint an estate agent on your behalf while still allowing you to remain in control of the property sale.

Where the number of payments missed on the mortgage has become significant and the property is no longer affordable, we can look to support you at this time. Our specialist team will need to discuss your current circumstances with you to help them to choose which of the options below is most suited to your needs.

• An option to sell: if you don’t expect to be able to afford the mortgage in the long term, we can give you time to sell your property, and we can help you along that process while holding off any action. To further support, if you are unsure, or if you need help setting up the sale of your property, we can appoint an estate agent you your behalf while still allowing you to remain in control of the property sale.
• Waiver of capital or interest: where the mortgage has become unsustainable, we’ll look to see if it’s appropriate to waive any interest or capital to help support your position at this time.