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Mortgage payment difficulties

If you find yourself in financial difficulty and you're worried about or unable to make your monthly mortgage repayment, we could help. The earlier you get in touch the better, as there are more options to explore if you tackle the problem early.

Worried about paying your mortgage?

1

First steps

The first thing you need to do is fill in our Income & Expenditure Form. You can complete this online or print a copy from our useful documents list below and return this to us by post or email.

Income & Expenditure Form

You can call us on 0345 850 1766, or use the chat option on this page. Speaking to us to discuss your situation will not impact your credit file.

2

We'll review your options

Once we have your form, we will review your situation and look at what types of support we could offer you.

Once we have received your completed form online, by post or email, we will get in touch to discuss the types of support we could offer you.

Your credit file will only be impacted if you miss a full monthly mortgage payment, or if you enter into a payment arrangement to repay the arrears.

3

We'll tailor a plan

When we speak to you, we'll tailor a plan that could help you get back on track.

You may find it helpful to take your tailored plan to a financial and/or debt adviser. Or for alternative options, see our Helpful Contacts below to make sure the plan works for you.

We will:

  • contact you as soon as possible to discuss your situation
  • try to find a suitable solution
  • keep you informed
  • take your individual circumstances into account
  • work with you to try and establish a way of repaying any outstanding mortgage arrears.

We might be able to:

  • arrange a new payment plan with you
  • change the date that you make your mortgage payment
  • allow you to pay back your mortgage over a longer period of time (which might reduce your monthly payments)
  • offer temporary conversion of your mortgage to interest only, which may reduce the amount you pay each month
  • offer you a different mortgage rate.

Completing an Income & Expenditure Form

If you’re struggling to pay your monthly bills, you've tried to negotiate a reduced payment with your other lenders/loans and you need help with your monthly mortgage payments, please complete an Income and Expenditure Form. This gives us a better picture of your financial position and allows us to consider all options available to you.

Your finances

You'll need to tell us about your income or take home pay after any deductions (e.g. tax or National Insurance), any expenses and other debts. It's important that you include all types of income you’re receiving and all household outgoings.

Payment proposal

You'll be asked to suggest an offer of payment for your mortgage. Take the time to go through the figures you’ve listed and work out what you can realistically afford to offer.

Documentation

You will need to have documents to hand when completing the form such as bank statements, wage slips and utility bills. After completing the form we may request copies of these documents.

Submitting the form

Submitting the form online means that we can look into potential solutions more quickly. However, you can request a hard copy to be sent in the post by giving us a call. Forms can be posted to Credit Management, Skipton Building Society, The Bailey, Skipton, North Yorkshire, BD23 1DN or emailed to creditmanagement@skipton.co.uk.

Income & Expenditure Form

Frequently asked questions

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I am struggling to make my mortgage payments, can I pay less this month?

It may be an option we can look at; however, any reduced payment options are based on what you can afford as this will report on your credit file. Please complete an Income & Expenditure form and we can review any options that might be available.

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Can I stop making payments whilst my house is on the market for sale?

No, you must make all due payments up until the mortgage is repaid, however if you are struggling to make your monthly mortgage payments please contact us to complete an Income & Expenditure form and we can review any options that might be available.

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Can I switch to temporary interest only whilst I sell my house?

It may be an option we can look at with you; however, any reduced payment options are based on what you can afford and will report on your credit file. Please complete an Income & Expenditure form and we can review any options that might be available.

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Can I reduce my mortgage payments to help pay off my other debts?

Your mortgage is a priority debt and you must contact any other lenders first and see if you can look at reduced payments. If you are struggling to make payments on your other loans we have a list of helpful contacts who may be able to help you. Alternatively you can talk to us and/or we can refer you to PayPlan if you would like some free independent debt advice.

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Will my credit file be affected?

Calling us to discuss your situation will not impact your credit file. Your credit file will only be impacted if you miss a full monthly mortgage payment, or if you enter into a formal payment arrangement with us.

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Can I have a payment holiday?

You may only take a payment holiday if you have previously made regular overpayments. Please refer to your mortgage offer for more information on your specific overpayment allowances.

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Can I switch to interest only to reduce my payments?

This may be a temporary option that we can look at for you. Any reduced payment options are based on what you can afford and may affect your credit file.

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Can I change the date my direct debit collects payment?

Yes, available dates are the 1st, 10th, 12th, 15th, 20th and the last working day of the month.

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Can I have equity release?

This is not something that we offer.

Need help?

Send an email to our Credit Management team.

creditmanagement@skipton.co.uk

Call us

Speak to our dedicated Credit Management team.

0345 850 1766

You could lose your home if you don’t keep up your mortgage repayments. Most Buy to Let mortgages aren’t regulated by the Financial Conduct Authority.

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Site intended for UK residents only. Skipton Building Society is a member of the Building Societies Association. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority, under registration number 153706, for accepting deposits, advising on and arranging mortgages and providing Restricted financial advice.
Principal Office, The Bailey, Skipton, North Yorkshire, BD23 1DN.

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