Your money worries questions answered

The first thing to do is get in touch with us straightaway. The sooner you let us know about any payment problems you may have, the sooner we can try to reach an agreement about payments that will suit us both.

You may find it helpful to seek advice from another organisation such as the Money Advice Service or your local Citizens Advice office. View our payment problems page for more information on these organisations and how they can help you.

Before you get in touch with us, try to get some information together about your finances. Make sure you have your account number when you call, along with details of your income, outgoings and debts. During the call we'll talk through your current personal and financial circumstances to try and understand why you're having difficulties. We'll then work together to find an affordable solution that works for you.

We can delay a Direct Debit payment within the same month so long as we have five working days' notice. The latest payment date is the 28th day of any month.

If your mortgage account falls into arrears, we will charge interest on the arrears. There may also be additional fees and your credit rating could be affected.

Once we've come to an agreement, it's important that the payments you make reach us on time. Normally, the best way to do this is by Direct Debit payments that are made automatically from your bank account. We'll help you set this up.

Yes. If you really can't see any way of making your regular mortgage payments for the foreseeable future, this may be the best route for you. But you must keep up your payments – or as much as you can afford – until the property is sold. We'll also need to see a copy of your estate agent's sale details, including the selling price, and you need to keep us informed of any offers to buy your property. Also, if you're likely to get less from the sale than the total amount you owe us, we'll need to give permission before the sale can be agreed.

Starting possession action is the last thing we want to do. However, if we cannot reach a mutually acceptable payment agreement or if you do not adhere to an agreed payment plan, we would have to consider this option. More details on the possession process are available on request.

This isn't usually a good idea because you'll still be liable for your monthly mortgage payments and the total amount of money still owed. And you'll be liable for costs – such as legal costs, estate agent's fees, valuation costs and so on until the property is sold. Rather than just walking away from a problem that's likely to get worse, it's always better to talk to us so that we can find the best solution for everyone involved.

Your local council may have no obligation to rehouse you – and if they are prepared to offer you a home, you may not have any choice about what it's like or where it is. To get further information on the situation in your area, contact the housing department of your local council, your local Citizen's Advice Bureau or a housing advice centre. If you live in Northern Ireland, you should contact the Housing Rights Service or the Northern Ireland Housing Executive who may be able to help you.

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