Help with mortgage repayments
What should I do if I’m struggling to pay my mortgage?
If you find yourself in a position where you’re struggling to make your agreed mortgage repayments, please let us know as soon as possible and we will try our best to help you.
The services below can also provide free, practical support and guides to help you if finances are a struggle.
Moneyhelper - Phone and online support, guides and budget planners
Step Change - Free, expert online debt advice
How will Furness be able to help me?
We’ll talk to you about your problems
We‘ll always contact you promptly when you miss a payment so we can discuss your circumstances, work out how we may help you and together, we can consider your options for mortgage repayments.
We’ll provide you with a contact name and freephone telephone number for a dedicated member of staff. We’ll also be able to share some useful information and advice from an independent advice agency about how to deal with problems paying your mortgage.
We’ll give you time to consider your options
You’ll be given reasonable time to provide us with any information we require and enable you to consider your next steps.
Should any charges be incurred as a result of your arrears, we’ll inform you immediately and tell you the amount you’ll have to pay.
We’ll only ever take legal action in the event that you don’t cooperate with us and we have no other option to resolve the missed mortgage repayments.
We’ll do what we can to help
We may be able to:
- Change the way you make your payments or the date that you make them
- Extend your mortgage term which would reduce your monthly payments
- Change the type of mortgage you have
- Help you to sell your home if you can no longer afford your mortgage
What can I do to help tackle any problems with making my mortgage payments?
Tell us straight away
Please tell us straight away if you’re having problems paying your mortgage or you think you might experience any issues. It will be really helpful if you could also respond promptly when we ask to talk to you about your mortgage and provide any details or information we require.
It’s important that you keep anyone else responsible for the mortgage, including any guarantors, up to date with your circumstances.
Seek impartial financial advice
Please consider seeking impartial advice if you need help managing your finances and check whether you can get any state benefits or tax credits which could help to increase your income. Your insurance policy is also worth reviewing as this could help with your repayments.
Be vigilant and consider all your options carefully
If you think you can make extra mortgage repayments in order to clear your arrears, be realistic about what you can afford to pay.
Please be vigilant and do your due diligence should any companies offer you loans, or invite you to sell your property to them and lease it back as a means of resolving your short term financial difficulty. Such actions may not be in your long term best interests. We advise seeking independent advice before entering into any arrangement of this type.
If you’re considering handing your keys over to us, please remember that you’ll still owe us any outstanding debt. We’d advise you to discuss this option with us before taking such action.
Will my house be repossessed?
Taking legal action to repossess your home will always be our last resort. We’ll only do this if you don’t work with us to try and resolve your arrears, or we’re unable to reach a reasonable solution.
If we do commence legal proceedings to repossess your home, we’ll always tell you why we’re doing this. We’ll give you plenty of notice in writing and explain the process we’ll follow, including what you need to do and any charges you may incur.