Support
Sources of support and advice from us and impartial organisations.
Worried about your mortgage payments?
Whether you’re behind on your mortgage or worried you might miss a payment, you’re not alone. We’re here to help. Simply speaking to us won’t affect your credit file. You can reach our team of experienced agents by calling 0330 159 7152. Our phone lines are open Monday to Friday 8:00am – 8:00pm.
We know that it can be tough to admit you have money problems and asking for help can be hard, so we’ve put together this step-by-step guide to let you know what to expect when you speak to us.
Step 1
We’ll understand your circumstances
We’ll ask you some questions to help us understand what’s changed. It’s best to be as open and honest as you can as this will help us to understand how we can help. If your circumstances (for example, a health condition or a recent life event like a bereavement or divorce) are affecting your ability to manage your account, you should tell us about this as we may be able to adapt our service to better support you.
If you have debts with other companies or want independent advice, we might recommend you speak to a debt advisor. A debt advisor will look at your overall financial position and recommend ways to deal with your debts. They won’t tell anyone you’ve spoken to them unless you instruct them to act on your behalf and speaking to them won’t affect your credit score. Many people say they had their first good night’s sleep in months after speaking with a debt advisor*. You can find details of the debt advice organisations we work closely with under the Independent Resources tab on this page.
*Source – StepChange Debt Charity – June 2023
You may be eligible for Government support
If you’re on a low income or certain means-tested benefits, you may be able to get government help with your mortgage payments. This is called Support for Mortgage Interest or SMI. You can find out more information about how the SMI scheme works here.
Step 2
We’ll ask for your financial information
We’ll need some financial information to understand your current situation. This helps us understand what options and support may be suitable for you. We’ll usually ask you to complete an income and expenditure (sometimes called an I&E) form, to give us a clear picture of your financial position.
The quickest and easiest way to give us this information is by providing it online. We’ve partnered with Paylink to help make it as easy as possible for you to do this. Simply click on the link to set up an account and then follow the step-by-step process to create your personal budget. Once you’ve finished, Paylink will tell us and we’ll use this information to understand how we can help you.
If you don’t want to provide this information online you can call us on 0330 159 7152, and complete it over the phone or ask us to send out a paper form for you to complete at home and post back to us.
Important information when completing an income and expenditure form:
- Have information like payslips, bank statements and how much you spend on your household bills ready when you start. The more information you can give us, the better.
- Be as accurate as possible. This is so we can be sure that any arrangement we agree is affordable for you.
Step 3
We’ll explain your options
We’ll use the information from your I&E to work out what options may be suitable for you. We’ll then talk you through them, explaining what they mean to you, whether they’ll affect your credit file and if you’ll be charged more interest.
Step 4
We’ll agree a solution
We’ll work with you to agree the most appropriate solution that’s tailored to your needs. This may be a short-term solution to help you get back on your feet, or a longer-term solution to pay back any arrears.
Our priority is to support you in remaining in your home, but sadly this isn’t always possible. Either because you can no longer afford your monthly mortgage payments or to pay back any outstanding arrears by the end of the term. If this is the case, we’ll work with you to give you the time you need. This might include allowing you to remain in your property whilst you put it on the market and wait for it to sell.
If we can’t agree a solution with you or we can’t get in touch with you, we may instruct our solicitors to begin legal action. This could result in you losing your property. This is always a last resort and something we’ll only do when we’ve exhausted all other options. From 7 July 2023, we won’t take possession of your property for at least 12 months from the date of your first missed payment (unless you ask us to, or we’re told that it’s empty).
Important information if we begin legal action:
Housing Loss Prevention Advice Service – Earlier Advice for Mortgage Customers
In August 2023, the government launched the Housing Loss Prevention Advice Service (HLPAS), which provides access to free legal advice and representation if you’re at risk of losing your home. Advice is provided by third-party advisors such as Shelter, local law centres and firms of solicitors.
You can use this service from the point we send you a written notice of our decision to seek possession of your property. The service can help you access free legal advice about your mortgage, housing, debt or welfare benefits regardless of your financial circumstances. If you’re required to attend a court hearing, they may be able to represent you.
How can you access this service?
You can find your nearest HLPAS provider by typing in your postcode at https://find-legal-advice.justice.gov.uk/ and ticking the box “Housing Loss Prevention Advice Service”.
Ways we can help
We can change your payment due date to be earlier or later (for example, to match the date you get paid), as long as the new date is within the same month.
Important information about changing your payment due date:
- If your new payment due date is later in the month, this will mean that you’re charged more interest. This is because the amount you owe will be higher for longer.
- If you choose a payment date at the end of the month, you must make sure that we receive your payment in time to apply it to your account. This is important if you pay by bank transfer or using our online system.
If your mortgage has flexible features (you can call us or check your original Offer of Loan to confirm) then you may be able to take a payment holiday of up to three months.
Important information about payment holidays:
- Payment holidays are only suitable if your financial difficulties are short term and you’ll be able to afford the increase to your monthly payments at the end of the payment holiday.
- The missed payments will not be classed as arrears and will not be reported to credit reference agencies.
- If you have a repayment mortgage, the missed payments will be paid back over the remaining term of your mortgage. This will result in you paying more interest.
- If you have an interest only mortgage, the missed payments will be added to the amount you owe. This means that the amount you need to pay back at the end of the mortgage term will be higher and you will pay more interest.
If you’re unable to meet all or part of your mortgage payment, we might be able to accept a lower or even no payment for a period of time.
Important information about making lower payments:
- Paying less than your monthly payment is normally agreed to cover a temporary change in your circumstances, like being out of work or undergoing medical treatment. It isn’t a long-term solution.
- At the end of the agreed lower payments, we will need to agree a payment arrangement to pay back any arrears.
- Paying less than your monthly payment may result in your account going into arrears.
- Arrears are reported to credit reference agencies and this may affect your ability to borrow money in future.
- If your mortgage is in arrears, you’ll be charged more interest. This is because your mortgage balance will be higher than expected. The additional interest will increase the amount you owe and may reduce the equity you have in your property.
If you can afford your monthly payment or more, we may be able to agree a payment arrangement to help stabilise or reduce any outstanding arrears. The amount we agree will be based on your individual circumstances and how much you can afford to pay.
Important information about payment arrangements:
- Any overpayment arrangement will typically need to pay back any outstanding arrears by the end of the mortgage term.
- Arrears are reported to credit reference agencies and this may affect your ability to borrow money in future.
- If your mortgage is in arrears, you’ll be charged more interest. This is because your mortgage balance will be higher than expected. The additional interest will increase the amount you owe and may reduce the equity you have in your property.
If you have a repayment mortgage and need longer than the existing term to pay back the mortgage balance or outstanding arrears, we may be able to agree a term extension.
Important information about term extensions:
- Paying back your mortgage over a longer term will result in you paying more interest.
- You need to consider whether you can afford to pay the mortgage over a longer period, particularly if this goes past your retirement.
If you have a repayment mortgage and either need a reduced payment for a period of time or want to repay arrears at a faster pace, a temporary change in the type of mortgage you have – for example by temporarily converting a repayment mortgage to interest only – may be appropriate.
Important information about changing your repayment type:
- A temporary change of repayment type is normally agreed to cover a temporary change in your circumstances, like being out of work or undergoing medical treatment. It isn’t a long-term solution.
- When you switch back to your original payment method, your payments will increase. You need to be confident that you can meet these higher payments.
- We won’t report the temporary change to credit reference agencies.
- Arrears are reported to credit reference agencies and may be affected by a temporary conversion. For example, if before the temporary conversion your monthly payment is £250 and you have arrears outstanding of £250, we would report to credit reference agencies that your account is one month in arrears. If your monthly payment reduced to £50 as a result of the temporary conversion and the arrears remained at £250, we would report to credit reference agencies that your account is five months in arrears.
If you are no longer able to afford to live in the security property but have alternative accommodation that is affordable, we may agree for you to let the property for a temporary period.
Important information about letting your property:
- The expected rental income would need to be enough to cover the mortgage payments (and a contribution towards the arrears, where appropriate).
- You would be responsible for meeting any costs and legal requirements associated with letting the property, for example gas safety checks, letting agents etc.
If you would like to add your outstanding arrears to your mortgage balance, capitalising your arrears may be an option.
Important information about capitalisation:
- We’ll only consider this once your finances are back on track and you’ve shown that you can afford the increased monthly payments.
- Once arrears have been capitalised we will report the account as being up to date to credit reference agencies. If you miss any future payments, these arrears will be reported to credit reference agencies.
- If you have a repayment mortgage, the capitalised arrears will be paid back over the remaining term of your mortgage. This will result in you paying more interest.
- If you have an interest only mortgage, the capitalised arrears will be added to the amount you owe. This means that the amount you need to pay back at the end of the mortgage term will be higher and you will pay more interest.
If you can no longer afford to make your mortgage payments but want to stay in your property and are resident in Scotland or Wales, you may be eligible for one of their mortgage rescue schemes. These schemes allow you to keep living in your own home as a tenant, part-owner or part-tenant.
If you live in Scotland, you can access more information on the Home Owners’ Support fund at www.mygov.scot/home-owners-support-fund
If you live in Wales, you should contact your local council’s Housing Options team, homelessness team or housing strategy officers for information on whether there is a mortgage rescue scheme in your area which could help you.
If you are no longer able to afford to live in your home, we may be able to help you sell the property through our assisted voluntary sale scheme. You’ll be able to stay in your property while it’s on the market, you’ll stay in control of the sale process and we’ll even pay your sale costs.
Important information about assisted voluntary sale:
- Once accepted onto the scheme it lasts for six months. During this time, you’ll be expected to co-operate with us and the selling agent. If a sale isn’t achieved within this time, we reserve the right to extend or remove you from the scheme.
- We’ll pay estate agent and legal costs up to an agreed limit.
This is known as a sale at shortfall. If you wish to sell your property, regardless of whether there are any mortgage arrears, and the sale price won’t be enough to pay back your mortgage balance you will need to go through our sale at shortfall process.
Important information about selling at a shortfall:
- We’ll obtain an independent valuation to make sure that the sale price is the true market value of the property.
- You’ll remain responsible for paying back any shortfall amount (there are certain exceptions to this if you’ve been declared insolvent, you should check with your trustee or the Official Receiver).
- We’ll report the shortfall amount to credit reference agencies and this may affect your ability to borrow money in future.
If you no longer wish to remain in your home and have somewhere else to live, regardless of whether there are any mortgage arrears, you can choose to voluntarily surrender the property (often known as ‘handing the keys back’). You should think very carefully before going ahead with this option.
Important information about voluntary surrender:
- Ensure that you have somewhere else to live before handing back the keys.
- Voluntarily surrendering your property may affect your eligibility for housing support from your local authority.
- You should remove all your possessions and take final meter readings before handing back the keys.
- You should maintain appropriate buildings insurance until the property is sold.
- We’ll place the property on the market and attempt to obtain the best sale price.
- If the property sells for less than the outstanding mortgage balance, you’ll remain responsible for paying back any shortfall amount.
Interest Only Mortgages
The end of your mortgage may seem like a long way off, but we know that time flies. We want to be sure that you’re in the best position to pay back your interest only mortgage by the end of the term. That’s why we’ll contact you regularly to find out about your plans.
Why you need a plan
When you have an interest only mortgage, the monthly payments you make only cover the interest. This means you need to pay off the amount you borrowed by the end of the mortgage term.
It’s important you have a repayment plan in place to repay your interest only mortgage when it ends. Your latest mortgage statement will tell you exactly how much you owe and when it needs to be paid back.
If you have a repayment plan, you need to check it regularly to make sure it’s on track. We recommend that you do this at least once a year. If you don’t have a plan or you’re worried that it might not be enough, we can help. Call our dedicated team now on 0330 159 7153. Phone lines are open Monday to Friday 08:30am-6:00pm.
Ways we can help
You could convert all or part of your mortgage to repayment, so you pay off both the interest and the capital you’ve borrowed. This will increase your monthly payments, so you’d need to speak to one of our qualified mortgage advisors to make sure that it’s affordable. You can make an appointment by calling 0330 159 7152. Our phone lines are open Monday to Friday 8:00am – 8:00pm.
Important things to consider:
- The shorter the term remaining on your mortgage, the higher your monthly payment. You need to make sure you’ll be able to keep up the higher monthly payments
- As long as you make all your monthly payments, having a repayment mortgage means that your mortgage will be paid off in full at the end of the term.
Overpaying your mortgage means you can save money on the interest you pay. It can also help reduce the amount you need to pay back at the end of the term. We don’t charge any early repayment charges, so there’s no limit to the amount you can overpay by.
Important Information
- You should only overpay what you can afford. If you’re unsure whether overpaying is right for you, you may wish to seek independent financial advice to help you with your decision.
- Overpaying might not pay back the full amount you owe by the end of the term, so you may need to think about how you’ll pay back any remaining balance.
If you have an endowment policy, shares, Individual Savings Account (ISA) or other investment plan that you were saving for a rainy day, you might want to use this to reduce or pay off your mortgage.
Important things to consider:
- The value of savings and investments can go down as well as up so it’s important to check on the progress of your plan regularly to make sure that it’s on track.
- If you’re unsure whether using an investment policy to repay all or part of your mortgage is right for you, you may wish to seek independent financial advice to help you with your decision.
- If your savings or investment aren’t enough to pay back the full amount you owe by the end of the term, you may need to think about how you’ll pay back any remaining balance.
You might be able to get a cheaper mortgage with a new lender which could help make paying back your interest only mortgage more affordable. We recommend that you get independent whole-of-market mortgage advice to help you understand your options. There are many companies offering free advice but some organisations do charge for their services, so you should always check this first.
Free impartial advice
StepChange Financial Solutions (part of StepChange Debt Charity) offer free, impartial mortgage advice which is tailored to your individual needs. They’ll take the time to understand your situation, guide you through the process and provide clear advice so you can be confident you’re making the right decision. You can call them on 0808 1686 719. Phone lines are open Monday to Friday 9:00am – 5:00pm. You can also look at the service they offer on their website.
If you plan to sell your home to pay off your interest only mortgage you will need to think about where you’re going to live.
You may wish to:
- Use the equity from your home to buy a cheaper property with no mortgage
- Use the equity from your home to buy a cheaper property and have a smaller repayment mortgage
- Move into a rented property or with family
With each of these options (particularly the first two) you’ll need to make sure that you have enough equity in your property to make your plan work.
You will need to think about:
- How much is your property is worth and how much money will be left over after you’ve repaid your mortgage?
- How much would a cheaper property cost? Can you afford the difference?
- If you would need to maintain a smaller mortgage, how much could you afford to pay each month? And for how long?
- When will be the right time for you to move? Is it better to move sooner whilst you’re younger and in good health, rather than wait until later in the term?
If you’re planning to sell your property, our dedicated team can help you answer these questions. Call our them on 0330 159 7153. Phone lines are open Monday to Friday 08:30am-6:00pm.
What happens if I can’t pay back my interest only mortgage?
If you’re concerned about paying back your interest only mortgage, it’s best to talk to us. Call our dedicated team now on 0330 159 7153. Phone lines are open Monday to Friday 08:30am-6:00pm.
If you can’t afford to pay back your interest only mortgage at the end of the term, you may need to sell your property. If you plan to do this, we recommend that you place the property on the market six months before the end of the term to allow time for it to sell.
If the term of the mortgage ends and the balance remains outstanding, we’ll try a number of ways to contact you. This may involve writing to you, calling you and sending out a field agent to visit your property. This is to help us understand your plans to pay off the mortgage.
If we can’t get in touch with you, we may have no choice but to tell our solicitors to take legal action. This could result in you losing your property. Taking legal action is always a last resort and something we’ll only do when all other options have been exhausted.
Switching to another lender
You may be able to get a cheaper mortgage with a new lender if your mortgage is up to date, you’ve made your last 12 payments in full and on time, and you’re not looking to borrow any more money (except to cover product or adviser fees). This is because new rules allow lenders to carry out a more relaxed affordability assessment, where all they have to do is demonstrate that your new mortgage is more affordable than your current one.
Finding out if you’re eligible
To see if you can switch to a cheaper mortgage visit www.moneyhelper.org.uk and complete the simple questionnaire.
To help you complete the questionnaire as accurately as possible, it would be useful to have your latest mortgage statement to hand. The questionnaire takes five minutes to complete and when you get to the end you’ll receive an indication of whether you may be able to get a cheaper mortgage elsewhere. There’ll also be information on where you can get advice on the options available to you.
Further information
You can get advice from an independent mortgage adviser. Although some advisers provide free advice, some may charge a fee so you should always check this first.
Alternatively, you can contact StepChange Financial Solutions who provide free, impartial, whole-of-market mortgage advice tailored to your individual circumstances.
This doesn’t mean that you won’t be able to in the future, there’s lots you can do to help yourself get ‘mortgage ready’.
- Check your credit file
You can check your credit file with one or all of the three main credit reference agencies: Equifax, Experian and TransUnion. This will tell you if you have any defaults or missed payments that may be affecting your credit score. Make sure your record is accurate and up to date. You can dispute anything you don’t agree with. - Check that you’re registered on the electoral roll.
Lenders use this to confirm who you are. Not being on it could lead to you being turned down.
To check you need to contact your local Electoral Registration Office. - Get debt advice
If you have unsecured debts like loans and credit cards, you may benefit from speaking to a debt advisor. They can look at your entire situation and provide individual support to help you. You can find details of the debt advice agencies that we work closely with here. - Review your budget
You can use our online budget planner to see how much you’re spending and what you’re spending it on. This might help you spot things like subscriptions you’re no longer using or things you may be able to get cheaper, like mobile phone contracts or tv packages. - Overpay your existing mortgage
If you can afford to, overpaying your mortgage means you can save money on the interest you pay. It will also increase the amount of equity you have in your property, which means that you may benefit from a better rate with a new lender. We don’t charge any early repayment charges, so there’s no limit to the amount you can overpay by. Check out our Overpayments Section to see how much you could save.
Making a complaint
We’re sorry if we haven’t got things right. Sometimes we get things wrong, but telling us about it gives us the chance to fix things for you. It also helps us try and stop the same thing happening again in the future.
- Calling us on 0330 159 7152.
Phone lines are open between 8.30 am and 6.00 pm Monday to Friday. - Emailing us through our online complaint form
- Writing to us at:
Landmark Mortgages, PO Box 115, Skipton, BD23 9FE. - Sending us a message through our online self-service facility.
To do this you must be registered to use the service.
What we need from you…
To help us deal with your complaint as quickly as possible, we need the following information:
- Your name and address
- A phone number we can contact you on
- Your account number
- A description of your complaint and how it’s affected you
Financial Ombudsman Service
If you’re not happy with the outcome of your complaint, you can ask the Financial Ombudsman Service (FOS) to look at it for you. This is a free, independent and impartial service that helps resolve disputes.
Although you can refer your complaint to FOS at any time, they’ll ask our permission to investigate complaints where:
- You haven’t complained to us first, to give us the chance to put things right.
- You have complained to us, but we haven’t given you a final response and we’re still within our eight week timescale.
We’ll give you information about your right to refer your complaint to the FOS in our final response. If you do so, it should be within six months of the date of our response.
- By phone
Call them on 0800 0234 567. - Online
Send an email to [email protected] or visit their website. - By post
Write to them at: Financial Ombudsman Service, Exchange Tower, London E14 9SR.
Independent Resources
Whether it’s coping with one of life’s upsets, managing health problems, dealing with money issues, or getting support with being a carer, we all need a little help from time to time.
We’ve put together this useful list of organisations to help make getting the support you need as quick and easy as possible.
These links take you to third-party websites which open in a separate tab
General Support
Financial & Debt Support
Health & Wellbeing Support
