Talk to your lender as soon as you can.

They may work with you on a plan for you to repay the money you owe.

StepChange Financial Solutions offers a free mortgage advice service on 0808 1686 719

Look into other mortgages

You could ask about a repayment mortgage to pay off the money you owe.

You need to show you can afford the monthly payments for another mortgage.

The lender looks at your age and what your income will be.

They may need details of your retirement income.

MoneyHelper explains how to find a financial adviser who could help you find out if a different mortgage is right for you.

Equity release and retirement mortgages

You could get a special type of interest only mortgage if you're over 55.

These are also called lifetime mortgages.

The money you borrow has to be paid back if you sell your home, move into long term care or if you die.

Age UK has more on equity release and retirement mortgages.

Get more time to repay

You can ask your lender to give you more time to pay back the money you owe.

They may agree, especially if you could get a lump sum from things like:

• compensation

• an inheritance

• selling your home

• savings and investments

Make sure your lender confirms in writing:

• what you have to pay and how long for

• documents they need from you, such as property sale details
  

Selling your home

You could sell your home to downsize, move to a cheaper area, or rent.

Ask your lender if they can give you support to sell your home. This is sometimes called assisted voluntary sale.

Your lender must consider delaying court action if you're taking steps to sell your home.

If your lender starts court action

Get advice straight away if your lender is taking action to repossess your home.

If you have a low income, you could get free legal help.

Ask your adviser what options you have for more time to repay.

Get free legal help at a repossession hearing if you cannot get legal advice before this.