Debt can happen to anyone. If you fall behind with payments this can impact your credit file and make it harder to get a mortgage deal you can afford. Find out how homeowners can be affected by debt problems and what your options are.
If you are a homeowner and struggling to keep up with payments on your debts, you need to be aware of how your home and mortgage could be impacted. There are a number of debt solutions to help people deal with their debt problems. They may include options to use any equity you may have in your home. I have debts. Will I lose my home?
This is a risk if things get out of control, but repossession is a last resort. You have the chance to get your finances back on track. Get in touch with your lender as soon as you can if you are unable to pay your mortgage. It is important to deal with your priority bills, if you can. These are your mortgage, anything secured against your home, council tax and debts that can be enforced by court action.
Don’t wait and let things get worse.