What happens if I can no longer afford my monthly payments?

If for any reason you find yourself having trouble keeping up with your existing payment plan then you should get in touch with your lender right away and let them know. There are various different options you may have available, from taking a ‘repayment holiday’ (essentially stopping payments for a short time) to starting a new, adjusted repayment plan.

It is imperative that you contact your lender as soon as possible though as multiple missed payments could result in your home being repossessed.

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Finance 4 Homes Limited is an Appointed Representative of Beneficial Life (London) Limited, which is authorised and regulated by the Financial Conduct Authority.
You may be charged a fee for mortgage advice which could be up to 2% of the loan. The precise amount will depend on your circumstances but we estimate it to be 0.75% of the loan amount. Registered in England and Wales no.11215166. Registered office: Spectrum House, 2b Suttons Lane, Hornchurch, Essex RM12 6RJ The information on this website is intended for guidance purposes only and does not constitute advice. Furthermore, the information on this website related to the UK market for consumers living in the UK only.

Special Note: Most Buy to Let mortgages are not regulated by the Financial Conduct Authority

THINK CAREFULLY ABOUT SECURING OTHER DEBTS AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP PAYMENTS ON YOUR MORTGAGE

What happens if I can no longer afford my monthly payments?

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