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Mortgage debt

Issues arising after falling into arrears with mortgages and the steps borrowers and lenders can take to resolve the situation.

This content applies to England & Wales
  • Mortgage payment breaks

    Homeowners whose income has been affected by the coronavirus pandemic can contact their lenders to discuss options and request a payment break.

  • Negotiating with mortgage lenders

    Borrowers facing difficulties to pay their mortgage should check their insurance and contact lenders who must act in compliance with rules on mortgage arrears.

  • Reducing mortgage costs

    Borrowers can ask their lender to reduce the monthly mortgage payment by making changes to the mortgage terms.

  • Voluntary sale

    Options and consequences for borrowers considering a voluntary sale after repossession, which is preferable for many borrowers facing an enforced sale.

  • Mortgage shortfall debts

    Borrowers may have to pay the outstanding amount to the insurer or lender if the proceeds of sale are not enough to pay off the mortgage in full.