Advice for homeowners

• Staying on top of your mortgage payments
• What to do if you cannot afford your mortgage
• Getting help from your lender
• Responsibilities beyond mortgage payments
• Helpful organisations

Staying on top of your mortgage payments

Financial challenges have become more common in recent years, making it essential to review your finances regularly. Your mortgage should be a top priority, as missing payments could put your home at risk of repossession.

If you receive a court summons, it is crucial that you attend. The court process gives you a chance to explain your situation and show the steps you are taking to address your mortgage arrears.

What to do if you cannot afford your mortgage

If you are worried about meeting your mortgage payments, act quickly.

• Prioritise your mortgage. Pay your mortgage before non-essential expenses or unsecured debts.
• Speak to your lender. Inform your lender as soon as possible if you are struggling. Lenders are more likely to help if they are kept up to date.
• Make payments where possible. Even if you cannot pay the full amount, paying something shows your willingness to cooperate.
• Increase your income. Consider options like renting out a spare room or checking if you're eligible for benefits.
• If you cannot pay at all. Don't ignore the problem. Contact your lender and explain your situation.

Getting help from your lender

Lenders are required to work with borrowers to prevent repossession. This is part of the Mortgage Pre-Action Protocol. Your lender may offer:

• A temporary reduction in your monthly payments.
• A longer mortgage term to lower monthly costs.
• Adding missed payments to your total loan balance.
• Time to sell your home, if necessary and make sure to consider alternative housing options.
• A reduction in fees and charges for missed payments.

Before agreeing to any changes, check whether they will increase your overall debt due to additional interest or charges.

Be cautious of property schemes that seem too good to be true as they often are.

Responsibilities beyond mortgage payments

Owning a home comes with responsibilities beyond mortgage payments. Here are some key areas to consider:

• Maintenance and repairs. Regular upkeep helps avoid costly repairs in the future. Budget for home maintenance to keep your property in good condition.
• Insurance. Ensure you have adequate home insurance to protect against unexpected events like flooding or fire.
• Energy efficiency. Making your home more energy efficient can help lower utility bills. Simple changes like better insulation or energy-efficient appliances can make a difference.
• Home safety. Install smoke alarms, check for damp and mould, and ensure your home meets fire safety standards.

For further information on energy and home repair assistance please visit Energy and home repair assistance.

Helpful organisations

If you need advice on managing your mortgage or other homeownership challenges, the following organisations can help:

• Shelter (opens new window) offer advice on repossession, court action, and what happens after repossession.
• Money Helper (opens new window) offers free support on managing debt and finances. 
• Citizens Advice (opens new window) offer further advice on mortgage problems.

If you are at risk of losing your home and are worried you might be at risk of homelessness, seek help from the council's Housing Advice Team (opens new window).

Contact us

For more information and advice, email housingadvice@chichester.gov.uk or phone 01243 534734.