What do I do if I am behind with mortgage payments?

If you own your house but are struggling to pay your mortgage payments, there are several options open to you to help keep your payments on track.

An overview of mortgage payment arrears

If you are in arrears with your mortgage, talk to  your lender.

Many lenders will be prepared to talk to you about a way of paying off what you owe by instalments.

Some people may choose to use a ‘pay day’ loan, but be aware that these charge very high rates of interest. Although they may offer temporary relief, if you have debt you can’t manage they won’t solve the problem.

If you’re not sure what’s best for you, speak to a Debt Advisor for advice.

When should I pay my housing debts?

Your house should be your top priority, so this is the first thing you should pay.

Pay your mortgage first or talk to your lender, then consider payments to essential services that keep your home running.

Always let your creditors know that you’re having problems paying things on time. Make sure any repayment arrangements you make are realistic and affordable. Then ensure you stick to them.

Get professional help as soon as you can; a debt advisor will help find the best possible solution for you.

What should I do next?

Before you make a decision about your housing situation, make sure you’re fully informed about your options. Take a look at these resources: