What happens if I miss a payment on my mortgage

We understand that unexpected financial pressures can sometimes lead to a missed mortgage payment. If this happens, it’s important to know what to expect and what support is available.

What Happens After a Missed Payment?

If you miss a mortgage payment, here’s what typically happens:

• You’ll be contacted by our lending team.

We will reach out to you, usually by phone or email, to let you know a payment has been missed. You’ll be asked to bring your account up to date or to discuss your circumstances.

• Interest will continue to accrue.

Your mortgage interest continues to build daily on the outstanding balance. Missing a payment could increase the amount you owe in the long term.

• It may affect your credit record.

A missed mortgage payment can be reported to credit reference agencies, which may negatively impact your credit score. This could affect your ability to borrow in the future.

• Your account may go into arrears.

If the missed payment is not resolved quickly, your account could be classed as in arrears, triggering further action and potentially incurring additional charges.

We’re Here to Help

If you're struggling to make payments, don’t wait — contact us as soon as possible. We are committed to supporting members through financial difficulty and may be able to offer:

• A temporary payment plan
• Mortgage term extension to lower monthly payments
• A full review of your financial situation

The earlier you speak to us, the more options we may have to help you avoid long-term impact.

What Happens If Payments Continue to Be Missed?

If your mortgage account remains in arrears for a prolonged period and no solution is agreed, we reserve the right to take legal action, which could ultimately lead to:

• Court proceedings
• Repossession of your property as a last resort

However, we always aim to work with members to find a solution before it reaches this stage.