What to do if you’re struggling with a mortgage repayment
No matter how good you are with money, life can throw a curveball. The increasing cost of living, rising unemployment and unexpected events show that there are many reasons why people might face difficulties with a mortgage repayment.
An unexpected job loss, illness or increasing costs elsewhere can lead to unforeseen circumstances that affect even the best financial planner.
But if those issues affect your mortgage payments, what can you do?
First of all, don’t panic or bury your head in the sand. You’re not the only one struggling at the moment. Latest figures show that more than 84,000 homeowners in the UK were in arrears in the third quarter of 2025.
Here, we share some tips to help you should you find yourself struggling with a mortgage repayment.
What to do if you’re struggling with a mortgage repayment
If you think you might miss a mortgage payment, then don’t do nothing.Almost all mortgage lenders in the UK have signed up to a government charter in conjunction with the Financial Conduct Authority. This offers short-term support for anyone struggling to pay a mortgage who is not already in arrears.
That means the lenders who have signed up for the charter have agreed to find a solution in most cases. But you must get in touch as soon as you think you have an issue. They are more likely to have different options about your payments if you act quickly.
How to contact a lender
A mortgage broker, such as The Mortgage Dog, is always worth using because they can help you talk to your lender and explain the process. Just like finding a deal, they can take that worry from you.
But if you don’t use a broker, speak directly to your lender.
In the first instance, check their website for details. This should tell you what special phone numbers or contact arrangements there are in the event that you might miss a mortgage payment. There are often helplines or specific emails available to use. Or, they might have a direct contact with the right team via their app or through online chats.
Remember, leaving it until a few days before the payment is due could create an issue due to time constraints. So, don’t delay in contacting your lender. It also helps you because you’re demonstrating that you can make financial decisions.
What will the lender offer?
As part of the charter, the 90% of lenders who have signed it will offer:
Help and guidance without impact on your credit file.
Full support to customers who are up to date with payments to switch to a new mortgage deal when their fixed rate one ends without another affordability check.
Well-timed details to help customers plan ahead if their current rate is due to end.
Tailored support to anyone struggling to pay so they can switch to interest-only payments for six months or extend their mortgage term to reduce monthly payments. They are also able to allow you to revert to your original term within six months.
But remember that these offers are only available if payments are up to date.
Will I need to sell up?
If your issue is a temporary blip, then it is highly unlikely that a lender will ask you to put your home on the market. Lenders really don’t want to repossess property – it’s always a last resort.
Dealing with the issue immediately and having the help of your lender will help ensure you stay in your home until your current financial situation is resolved.
It also means you’re less likely to have issues when remortgaging or buying a new property in the future.
Accident and illness cover
Many people struggle with mortgage repayments because they have had an accident or illness. That’s why it’s important to consider taking out insurance cover when you arrange your mortgage.
It may seem that you’re spending more money, but it can be invaluable for any unexpected events that could affect your mortgage repayments.
Income protection insurance replaces a proportion of your income should you be unable to work through illness or after an accident. Some policies also cover redundancy. You can use the money as you see fit, but it’s useful if you’re struggling with mortgage repayments.
Mortgage payment protection insurance covers mortgage payments for a set period. This is usually up to two years in the event of losing your job or having an accident or illness that means you can’t work.
In the case of critical illness, you can take out additional protection. We’ve looked at critical illness cover here, so check out the blog for advice.
What else can I do?
If you haven’t had an accident or illness and you’re still working, then you may need to look at your spending.
Getting your mortgage repayments sorted are your priority along with any other debt repayments. That’s because you could end up with a poor credit score if you leave it until you’ve missed a payment. This then leads to more problems in the future when you need to make big or essential purchases.
After that, you can work out what you can do to either reduce your spending or increase your income.
Are there subscriptions you’ve forgotten that could be stopped? Could you find a cheaper gym membership? Can you sell your car and buy a cheaper alternative that gets you from A to B?
You could also look at a side hustle or a second job that increases your income. It’s not an embarrassment having some financial issues that you didn’t expect. But not dealing with it can lead to more problems.
Get in touch
If you want to talk about your mortgage, remortgage or payments, contact our experienced team of advisers today. We can meet you in person, via video calls or just speak to you over the phone.
As with all insurance policies, conditions and exclusions will apply
