Struggling to repay your mortgage?

The UK economy may be slowly recovering but many Brits are still feeling the financial pressure, with one in 10 homeowners struggling to meet their monthly mortgage repayments*. So, what should you do if you find yourself in this difficult situation?

Speak to your lender

Don’t bury your head in the sand. Contact your lender as soon as you can, as they will usually contact you within 15 days of a missed payment anyway. Don’t be afraid of what they will say – in this situation, mortgage lenders must follow certain rules to ensure that you are treated fairly.

Understand your budget

It’s important to sit down and ascertain what you can afford to pay each month, so you can show your lender that you have carefully considered your options.

Decide what’s best for you

You should then write to your lender with your proposed solution. Your options may include:

• Paying off your mortgage over a longer period

• Switching to interest-only payments

• Taking a repayment holiday.

Seek advice

If you’re struggling to repay your mortgage, it’s essential to seek professional advice. We will clearly explain your options, so you can make an informed decision about your next steps.

Your home may be repossessed if you do not keep up repayments on your mortgage

* YouGov, 2025