Mortgage arrears occur when you cannot afford to meet the mortgage repayments each month. At Hanley Economic we understand that being in arrears can be a difficult and emotional time
Entering into arrears does not necessarily mean your house will automatically be repossessed because of one missed mortgage payment
The important first step is to contact a member of our Customer Services Team on 01782 255000 Selecting Option 2 from our Telephone menu then Option 4. They will be able to discuss in more detail your options and the avenues which we may be able to explore with you.
Secondly the following two documents provide useful information
- Problems paying your mortgage from the Money Advice Service
- Can’t Pay Your Mortgage? – Helpful advice from the BSA and the Money Advice Trust
The important thing is to contact us as quickly as possible so we can try and put steps into place to help resolve the problem quickly
The Money Advice Service has produced an online tool ‘Money Navigator’ to help people who have seen their finances affected by Covid-19. The aim of the tool is signpost the best organisations to contact for specialist support.
The Money Navigator tool can be reached by following this link.