Selling a property
Selling when you are behind on mortgage payments
Before you decide anything, get free, independent advice. Falling behind on a mortgage is stressful, but there are organisations that can help you look at all your options – and selling is only one of them.
Get free, independent advice first
These organisations give free, independent advice on debt and housing:
An adviser can look at your whole situation, including your income, other debts and any help you may be entitled to. They can also help you work out what to say to your lender. Their advice is free and confidential, and they are not trying to sell you anything.
Talk to your lender early
Contact your lender as early as you can, even if you can only pay part of what you owe. Lenders are expected to look at options with you before going to court.
Keep a note of who you spoke to and what was agreed, and keep any letters they send you.
Do not ignore letters from your lender, even if they are hard to read. Open them, keep them together and take them with you when you speak to an adviser. If you are offered an arrangement, make sure you can afford it before you agree to it.
Breathing Space
The Breathing Space scheme, also called debt respite, can give you temporary protection from creditor action while you get debt advice. A debt adviser can tell you whether it applies to you.
It does not write off what you owe, but it can give you time to get advice and think about your options without extra pressure.
Where selling fits in
Selling is one option among others. Once you have had advice, you may decide it is the right step for you – or you may not.
Before you agree any sale, make sure you understand what you would owe your lender once the sale completes, and how that would be paid. Your adviser and your solicitor can help you check this.
Be wary of anyone who asks you for money upfront, rushes you to sign, or asks you to transfer the house to them. Never pay an upfront fee to anyone to buy your house.
If you do talk to us, we won't pressure you. We'll be straight with you, and if a sale to us isn't the right answer, we'll say so.
This is general information, not financial or legal advice. Speak to a free, independent debt adviser before you decide anything.
How we can help
If, after getting advice, you decide selling is the right step, we can help.
- We'll look at the property and talk you through the options.
- If a direct sale suits you, we'll make an offer.
- There's no obligation to accept it.
- Your own solicitor handles the legal side.
Questions sellers ask
Thinking of selling?
Tell us about the property and we will talk you through the options. There is no obligation.