Help with payment difficulties

If you are worried about paying your mortgage, it’s important to remember that you are not alone. We have a lot of experience helping people in your position and we want to try to help you too.

Many people dislike talking about money issues, but when you are struggling to afford your mortgage or can sense trouble ahead you should not suffer in silence.

Whether or not you have missed a mortgage payment or are worried that you might struggle in the future, the first thing to do is contact us. We are on the end of the line, ready to discuss your situation with you.

The sooner you call the better – as the earlier you speak to us, the more we can do to help. We will always consider your personal circumstances and will be fair and considerate at all times. You can find out more details of how we can help below.

But what if you need additional support? Perhaps you are dealing with health problems, family issues, or have concerns about being a carer of others. Our Personal Support section will direct you to sources of help, quickly and easily.

How we can help

If you are having trouble paying your mortgage we will always try to help you.

The information below explains how we will support you and the steps you can take to help yourself.

We will
  • Contact you as soon as possible to discuss your problems.
  • Discuss all available options to see what is best for you.
  • Treat you fairly, listening to your individual circumstances.
  • Establish the extent of your financial difficulties. This may involve completing an income and expenditure statement with you.
  • Give you reasonable time to pay back the debt.
  • Ensure everything possible is done to help you remain in your home.
  • Inform you of free financial advice services if you have debts with other providers.
What we can do
  • Arrange a new payment plan with you and periodically review this to reflect your current circumstances (subject to assessment).
  • Change the way you make your payments, or the date you make them on.
  • In some cases allow you to pay your repayment mortgage back over a longer period (subject to assessment).
  • Change the type of mortgage you have, for example temporarily converting your account to an Interest Only basis could reduce your contractual payment (subject to assessment).
  • In some cases use Assisted Voluntary Sale scheme to sell your property (subject to assessment).
  • In some cases we will allow you to rent your property out (subject to assessment).
  • Help you access free, independent and impartial advice.

If we can make one of these arrangements with you, we will explain how it would work and give you time to consider it. If we cannot offer you any of these options, we will of course tell you why. We might also agree to you remaining in the property to sell it yourself depending on your circumstances.

What you can do
  • Tell us as soon as possible if you are having problems repaying your mortgage or think that you might experience problems shortly. We want to help.
  • Seek free, independent and impartial advice.
  • Take steps to understand how and when you spend money and complete a budget planner.
  • Make sure you keep any other people paying the mortgage and anyone guaranteeing the mortgage, up to date with what is happening.
  • Keep to the payment plan we agree with you, or tell us if there is a change in your circumstances, which may affect the arrangement.
  • Check whether you can get any state benefits or tax credits which could help to increase your income.
  • If you have an insurance policy such as payment protection, check whether it would help with your payments.
  • If applicable, ask us for our agreement to put tenants in your property. (Subject to assessment).
  • Tell us if you move to a new address and provide us with an up to date telephone number to make it easier to contact you.
How to contact us

Call our dedicated team on 0330 159 7141* (Lines are open 8am-8pm Monday to Friday and 9-1pm Saturday).

If you would prefer to write to us, please ensure that you include your account number with contact details and send this to:

Landmark Mortgages
PO Box 656
Durham
DH1 9LY

If you would like a family member, friend or debt organisation to discuss an account on your behalf please send authorisation in writing to the above address to confirm that you allow this person(s) to discuss your account.

Costs and charges

If you fall in to arrears with your mortgage repayments, there may be charges that you need to pay. Please refer to our tariff of fees for further details.

Legal proceedings

If we cannot reach an agreement on a solution to help you clear your arrears, we may have to commence legal proceedings to repossess your home. However, this is always treated as a last resort.

If court proceedings are issued, we strongly recommend that you seek immediate independent legal advice and attend any court proceedings.

If your home is repossessed
  • We will obtain two independent valuations of the property and we will sell it for the best price within a reasonable amount of time.
  • We will use the money raised from selling a particular property to pay all loans and charges secured against it.
  • If there is any money left over, this will go to any other second charges held on the property, or can be set off against any other mortgages you have with us. Only then will the remainder will be transferred to you.
  • If there is not enough money from the sale to pay off the mortgage balance, our Recoveries Team will subsequently contact you discuss the outstanding 'shortfall' amount.
  • We will take account of your monthly income and outgoings when trying to arrange a suitable payment plan for this shortfall debt with you.

If you are experiencing financial difficulties you may think there is no way out and wish to hand over the property keys to us. If you do this, you remain liable for any outstanding debt on your mortgage. Before taking such action, it is important that you discuss this with us first, as we may be able to help you resolve the situation.