Help if you can't pay your mortgage


Help for mortgage Customers facing financial difficulties

We pride ourselves on our close relationship with our Customers, and that means when you are having problems as well as when times are good.

If you are experiencing difficulties making your monthly payments, or if you think you may do in the near future, talk to us. We take a very individual and sympathetic approach. In our experience, Customers are unique and what might be suitable for one Customer may not be for another.

There several ways we might be able to help:

  • Come to an arrangement which might temporarily reduce your payments or give you longer to pay back any arrears that have built up
  • Change the type of mortgage from repayment to interest only
  • Change the term of the mortgage
  • Agree to you letting out part or all of your property.

There may be other options we can consider. We would always recommend that you take free independent advice from a debt advice service and we are happy to discuss your circumstances with them if you would like us to.

The following agencies will provide free advice on money problems:

Citizens Advice Bureau www.adviceguide.org.uk

StepChange Debt Charity – www.stepchange.org Telephone : 0800 138 1111

National Debtline www.nationaldebtline.co.uk Telephone: 0808 808 4000

We will only consider repossession as a last resort, and it is our experience that the vast majority of arrears problems can be managed without pursuing this course of action.

The important thing is that you talk to us as soon as possible so don’t put off the problem, email our Underwriting team at mortgages@bibs.co.uk or contact them on 01225 475719.