By Jonathan Gardner

Why is debt advice important? Facing mortgage arrears can be a stressful and isolating experience for homeowners. When the weight of missed payments starts to feel like a burden too heavy to bear, it’s important to remember that seeking debt advice can be a lifeline. Debt advice offers not only practical solutions but also emotional […]

Why do homeowners in mortgage arrears hesitate to seek help? When facing financial distress and falling behind on mortgage payments, many homeowners choose not to seek support or get in contact with their lenders. This reluctance is often rooted in a complex mix of emotional, psychological and practical factors. First and foremost, fear and anxiety

What is considered financial difficulty? Understanding financial difficulty is so important when facing tough times, especially when dealing with institutions like banks or mortgage lenders. According to the UK’s Financial Ombudsman, financial difficulty is a situation where an individual or household is struggling to manage their financial commitments due to changes in their circumstances or

Home Repossession: Understanding, coping and empowering yourself in tough times.  In the UK today, many homeowners are experiencing the stress of potential home repossession. While it’s a subject full of legal jargon and economic implications, at its heart, it’s a deeply personal and often distressing experience. If you’re among those with a mortgage finding themselves

How do I learn to plan my budget? Managing your finances effectively is a vital skill, especially when juggling a mortgage and the cost of living. By learning how to plan your budget, you can take control of your financial future, reduce stress and ensure you can meet your financial obligations while enjoying a comfortable

How does repossession work in the UK? Repossession is a legal process through which a mortgage lender takes ownership of a property due to your failure to keep up with mortgage payments. It is a last resort for lenders and has significant implications for homeowners.  Repossession is typically triggered by mortgage arrears, where the homeowner

What is the quickest a house sale can go through? When facing the threat of repossession, selling your home quickly may be a viable strategy to avoid legal proceedings and potential damage to your credit score. Here’s a step-by-step guide to selling your home quickly: 1: Understand Your Timeline Determine how much time you have

How to pay off a mortgage shortfall? A mortgage shortfall can occur when your home is sold for less than the amount you owe on your mortgage. This situation often arises in cases of home repossession or voluntary sale during financial distress. For many, it’s a daunting prospect, but there are structured ways to manage

Is it important to have an emergency fund for a safety net? In my mind, maintaining an emergency fund isn’t just wise,  it’s essential. Many of us are likely to suffer one or two  financial shocks, during our lifetime, which can create a rapid descent into debt, potentially leading to dire consequences such as home

What are the repossession rights in the UK? In the UK, both the lender and the borrower have specific rights and responsibilities during the repossession process. These rights are designed to ensure the process is fair and that all parties have the opportunity to rectify the situation where possible.  Lenders are required to notify you