Situation 7 of 10
Behind on the mortgage
It's frightening, but you have more options than you think. The earlier you act, the more of them you keep.
“I've missed a payment, or I'm about to.”
How to improve it
- Ring your lender before they ring you. Lenders would usually rather agree a plan than repossess.
- Ask what they can offer: a payment plan, a temporary payment change, or a longer mortgage term.
- Get free, independent advice from StepChange, Citizens Advice or Shelter. It costs nothing.
“The letters have turned into court papers.”
How to improve it
- Don't ignore them. Open everything, and get free advice the same week.
- Go to any hearing. Courts can give people time, and they listen to people who turn up with a plan.
- Shelter and Citizens Advice can help you prepare, and sometimes come with you.
“I've decided selling is the answer.”
How to improve it
- Tell your lender you're selling, and how. They may give you time if there's a real plan.
- Selling yourself almost always leaves you better off than a repossession sale.
- Be wary of anyone offering to "stop repossession" by buying your home and renting it back. That needs FCA authorisation, so check before you sign.
Free help: StepChange · Citizens Advice · Shelter. Talk to them before anyone selling something.
Other situations
- Your house isn't selling and nothing's happening
- Your house sale has fallen through
- Selling a house you've inherited
- Selling a house that needs work
- Selling a house during separation or divorce
- Selling a house with tenants in
- When you owe more than your house is worth
- Selling your house when you're relocating
- Selling a parent's house to pay for care