If someone doesn’t keep up with their mortgage payments, their account will fall into arrears. When this happens, the mortgage company is likely to apply extra charges on top of their monthly payments.
We hear from people who feel their mortgage company hasn’t treated them fairly when they’ve fallen into difficulties – or who are unhappy with the arrears charges the lender has applied.
We see situations that might have been far less serious and stressful if people had told their mortgage company sooner that they were struggling. We can signpost people to organisations offering free debt advice – who can give them the support they need to get things back on track. But to stop things getting to that point, it’s essential that people are open and honest if they’re having trouble – and that lenders respond constructively as soon as they know.
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