IF THE BANK SAYS NO, then give us a go!
mortgage arrears
This page is for guidance only and does not constitute regulated advice. For tailored personal advice, please contact us. Think carefully about securing other debts against your home. Your home may be repossessed if you do not keep up repayments on your mortgage or other debt secured on it.
When a homeowner misses their mortgage payments, they are considered to be in ‘arrears’. This can be a very stressful and daunting experience, but there are a number of options available to help you get back on track. The key is to act quickly and not ignore the problem.
- We can provide tailored advice and support to help you communicate effectively with your lender.
- We may work with specialist lenders in some cases, even if you have a history of missed payments (subject to lender criteria).
- Our aim is to help you navigate a solution that works for your unique situation and helps protect your home from repossession.
Book a free mortgage consultation now
Fill in your details below and one of our mortgage experts will contact you to discuss your options and help you choose the most appropriate deal.
Think carefully about securing other debts against your home. Your home may be repossessed if you do not keep up repayments on your mortgage or other debt secured on it.
The Importance of Acting Quickly
Falling behind on your mortgage payments can be a worrying situation, but it’s crucial to address it as soon as possible. The worst thing you can do is ignore the problem. Your lender will want to work with you to find a solution, but they can’t help if you don’t communicate with them.
Lenders have a legal obligation to treat you fairly and consider your individual circumstances. The sooner you get in touch, the more options they may be able to offer. Ignoring phone calls and letters could lead to additional fees and charges being added to your account, and ultimately, could put your home at risk of repossession.
By acting quickly, you can show your lender that you are committed to resolving the issue. This can make them more willing to explore options like a temporary payment holiday, a reduced payment plan, or extending the term of your mortgage to make your monthly outgoings more manageable.
Why Choose Us?
Finding yourself in mortgage arrears can feel overwhelming, but you don’t have to face it alone. We specialise in helping homeowners who are struggling with their mortgage payments. Our expertise lies in our deep understanding of the specialist lending market and our ability to work with lenders who are more flexible than high-street banks.
We know that every situation is unique, and we take the time to understand your circumstances, reviewing all the available options to find a tailored solution. We can help you navigate the process of communicating with your lender, putting together a plan, and working to secure a more manageable arrangement. Our goal is to help you take control of your financial situation and, most importantly, protect your home.
Who This May or May Not Suit
This information offers general guidance and may not apply to everyone’s situation.
May suit:
-
Homeowners with short-term payment issues.
-
Borrowers seeking specialist or remortgage options after arrears.
May not suit:
-
Those in long-term financial difficulty or facing repossession proceedings.
-
Anyone needing personalised financial or debt advice.
Important: Finance4Homes provides guidance only, not regulated mortgage or debt advice. Always seek advice tailored to your circumstances.
SEE IF YOU QUALIFY TODAY
Fill in your details below and one of our mortgage experts will contact you to discuss your options and help you choose the most appropriate deal.
Think carefully about securing other debts against your home. Your home may be repossessed if you do not keep up repayments on your mortgage or other debt secured on it.
Frequently Asked Questions
What should I do if I've missed a mortgage payment?
The most important step is to contact your lender as soon as you can. Don’t ignore the problem. Lenders have a legal obligation to treat you fairly and will be more willing to work with you to find a solution if you communicate with them early. The sooner you get in touch, the more options you’ll have available.
What happens if I can't afford my mortgage payments anymore?
Lenders have a range of options they can offer to help, depending on your circumstances. These can include a temporary payment holiday, switching to an interest-only mortgage for a short period, or extending your mortgage term to reduce your monthly payments. You may also be able to “capitalise” the arrears by adding them to your total mortgage, though this may increase your long-term interest costs.
Will my home be repossessed immediately?
No. Repossession is a last resort for lenders. There are strict rules and procedures they must follow before they can take any legal action. In the UK, there’s typically a minimum 12-month period from the first missed payment before a lender can start repossession proceedings without your consent. However, ignoring the issue will only make it more likely.
How will mortgage arrears affect my credit file?
Any missed, late, or partial mortgage payments will be recorded on your credit file and can negatively impact your credit score for at least six years. This can make it difficult to borrow money, get a credit card, or even secure a new mortgage in the future. Acting quickly and agreeing on a repayment plan with your lender can show a commitment to resolving the debt.
What is the difference between mortgage arrears and a secured loan?
Mortgage arrears is the debt you owe to your current lender for missed payments on your mortgage. A secured loan is a new loan that is secured against your property, allowing you to borrow a lump sum to pay off other debts. While a secured loan could be an option to clear your arrears, it’s crucial to seek professional advice to ensure it is the right path for your financial situation.
What should I do if I've missed a mortgage payment?
The most important step is to contact your lender as soon as you can. Don’t ignore the problem. Lenders have a legal obligation to treat you fairly and will be more willing to work with you to find a solution if you communicate with them early. The sooner you get in touch, the more options you’ll have available.
What happens if I can't afford my mortgage payments anymore?
Lenders have a range of options they can offer to help, depending on your circumstances. These can include a temporary payment holiday, switching to an interest-only mortgage for a short period, or extending your mortgage term to reduce your monthly payments. You may also be able to “capitalise” the arrears by adding them to your total mortgage, though this may increase your long-term interest costs.
Will my home be repossessed immediately?
No. Repossession is a last resort for lenders. There are strict rules and procedures they must follow before they can take any legal action. In the UK, there’s typically a minimum 12-month period from the first missed payment before a lender can start repossession proceedings without your consent. However, ignoring the issue will only make it more likely.
How will mortgage arrears affect my credit file?
Any missed, late, or partial mortgage payments will be recorded on your credit file and can negatively impact your credit score for at least six years. This can make it difficult to borrow money, get a credit card, or even secure a new mortgage in the future. Acting quickly and agreeing on a repayment plan with your lender can show a commitment to resolving the debt.
What is the difference between mortgage arrears and a secured loan?
Mortgage arrears is the debt you owe to your current lender for missed payments on your mortgage. A secured loan is a new loan that is secured against your property, allowing you to borrow a lump sum to pay off other debts. While a secured loan could be an option to clear your arrears, it’s crucial to seek professional advice to ensure it is the right path for your financial situation.
What Our Clients Say
These are individual client experiences. Past performance is not a guarantee of future results. Your outcome may differ based on your circumstances.
Last Updated 24/10/2025