Your mortgage should be your top priority debt over any other forms as missing or falling behind on payments could result in serious consequences.


What will happen If I can’t pay it back in full?

Most lenders will allow for 3 missed payments before they start taking action.

If you have taken out a mortgage and are now struggling to pay back the full amount then you could be in danger of being taken to court to have your property repossessed.

The mortgage lender will take possession of your property so they can sell it and cover the costs of your repayments with the value of the house. You will no longer own your house and could only buy the house back by making a lump payment


What you could do

  • Ask your lender if you can pay your debt over a longer period of time.
  • Talk to your lender if there has been a sudden, unexpected change in your household income.
  • You could be allowed to have a pause on payments for a few months.
  • You could switch to a cheaper mortgage