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Ways we can help
Once your finances are back on track, we may be able to agree an overpayment arrangement to help you repay 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 overpayment arrangements:
- Your overpayment arrangement will typically need to pay back any outstanding arrears by the end of your mortgage term.
- Each month, we’ll tell credit reference agencies about any arrears on your account. This may make it more difficult or expensive for you to borrow money in the future. You can find more information about how credit file reporting works here.
- 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.