1

Sort out your budget

If you're feeling the pinch, take a look at your financial situation and see if there's anything you can do to improve it. Ask yourself:
  • Can I cut back on spending without hardship?
  • Can I get a better deal on my mortgage, insurance, utilities or other essentials?
  • Is there anything I can do to increase my income? Can I claim any benefits, increase my hours at work or take in a lodger?
An adviser at a Citizens Advice Bureau or money advice centre can help you work out a budget and claim any benefits you may be entitled to.
2

Don't ignore the problem

If you receive a letter from your mortgage lender, don't shove it to the back of a drawer. Get advice instead! Visit your local CAB or money advice centre, or call Shelter's helpline.
3

Talk to your lender

If something goes wrong and you can't meet your monthly mortgage payments in full, you should tell your lender immediately. It is really important to contact your lender! If you don't want to phone, use our sample letter to write to your lender or create a letter online.
4

Pay what you can

Even if you can't afford your entire monthly payments, show that you are willing to pay what you can. If your lender knows you are trying to pay off your loan, they should allow you more time to sort out your money problems.
5

Find out what your options are

Repossession should be a last resort for your lender, and they ought to consider ways to prevent it happening. For example, you could decide to sell your home yourself, or apply for a debt payment programme to give you more time to pay back your arrears. You could also consider the Scottish Government's mortgage to rent or mortgage to shared equity scheme or the UK-wide homeowners mortgage support (HMS) scheme. An adviser at a CAB, money advice centre or at Shelter will be able to help you look at all the options.
6

Make the right decision for you and your family

Before you and your lender agree on any changes to your mortgage, ask your lender to tell you about the longer-term implications of what's proposed. Get advice before making any choices.

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