Struggling to meet your mortgage payments

Help with mortgage arrears

Due to the economic downturn, unemployment, changes in circumstances and an inability to re-mortgage, the number of households in mortgage arrears continues to rise.

Bradford Council participates in the Mortgage Breathing Space Scheme administered by Wakefield Council. The scheme offers an interest free secured load that helps you to pay your mortgage. The Housing Options Service can offer you advice and assistance with your situation.

Other practical actions you can take

Speak to your lender

Tell them about your circumstances. They may be able to help you by:

• changing the length and term of your mortgage
• accepting reduced payments from you in the short-term, this could be making interest only payments or agreeing to pay less than the contractual monthly payments for a short while
• adding any mortgage arrears to the amount you have already borrowed

You must speak to them as soon as you know you will not be able to make payments.

Are you claiming all the benefits you are entitled to?

• Find out if you are entitled to any benefits
• If you have mortgage protection are you able to make a claim?
• You may be entitled to get Support for Mortgage Interest
• If your income has reduced notify the Tax Credits Office immediately as you may be entitled to increased Child and/or Working Tax Credit
• Find out if you can claim Council Tax Reduction

Look at your expenditure. Can you make cutbacks?

• Complete a budgeting sheet, detailing everything that you need to pay out each month
• Prioritise! Mortgage payments, loans secured on the mortgage, council tax and utility bills should be paid before any other debts
• If you owe money to credit cards, store cards and for unsecured loans (this list is not exhaustive) you can seek the help of a debt advisor. They may be able to renegotiate your payments
• You can get help with managing your money and debt