Payment Difficulties

Are you worried about keeping up with your mortgage payments?

Do you think you may have difficulties in the future? If so, we are here to help you. The best way to make sure a situation does not get any worse is to contact us as soon as possible.

If you are an owner occupier, please call us on our helpline number +44 845 702 3083 and we will try to assist you in resolving the situation. You can call from 9am to 8pm Monday to Thursday and 9am to 4.45pm Fridays.

The Society will treat all customers fairly, taking individual circumstances into consideration.

We may be able to help you:

1. Arrange a new payment plan with you taking your individual circumstances into consideration.
2. Change the way you make payments or the date on which you make them.
3. Allow you to repay your mortgage over a longer period of time.
4. Change the type of mortgage you currently have.
5. Offer a payment holiday (conditions apply).

If we are able to offer any of these options, we will explain how it will work and give you time to consider. If we cannot offer any of the options, we will tell you why.

What you can do to help us:

1. Tell us as soon as possible if you are having problems repaying your mortgage.
2. Seek debt advice if you need help managing your finances.
3. If we try to contact you, respond quickly.
4. Make sure you keep any other people paying the mortgage, and anyone guaranteeing the mortgage, up to date with what is happening.
5. Keep to any payment plan we make with you, or tell us if there is a change in your circumstances which may affect the arrangement.
6. Check whether you can get any state benefits or tax credits which could help increase your income.
7. Check whether you have an insurance policy which may help with your payments.
8. Tell us if you move to a new address.

If we cannot agree a solution:

1. We may send a collections agent to discuss your financial circumstances and the cost of the visit will be charged to your mortgage account.
2. We may go to court to start proceedings to repossess your home. If this action takes place, we strongly recommend that you attend the court and take independent debt advice. We will keep trying to solve the problem with you. Possession is always a last resort. Starting court proceedings does not necessarily mean that we will repossess your home.

If we do repossess your home:

1. We will sell it for the best possible price.
2. We will give you a reasonable time to take your possessions from the property.
3. We will use the money raised from the sale, to repay your mortgage and any other loans or charges.
4. If there is any money left, we will pay it to you.
5. If there is insufficient money to repay the mortgage you will still owe us the amount that is left (shortfall debt). We will tell you the amount as soon as possible.
6. We will take into account your income and outgoings when we arrange a payment plan to repay the shortfall debt.
7. If the shortfall debt is not repaid, it can affect your future ability to obtain credit.
8. If you bought your home with other borrowers, each of you is responsible for all the money borrowed. This is true even if you normally pay only part of the mortgage.
9. We will contact you within six years of selling your property to arrange for you to pay back what you still owe.

Complaints

If you do not think we have treated you fairly, you can complain to the Society's Customer Relations team including the following:

• Your full name and address
• Your account number and any other reference numbers
• Full details of your complaint and why the matter should be resolved in your favour
• Any other information you feel is relevant to your complaint

If the complaint is not dealt with to your satisfaction, you may then take it to the Financial Ombudsman Service provides a free and independent service for consumers, and they can be contacted at:

The Financial Ombudsman Service
South Quay Plaza
183 Marsh Wall
London E14 9SR
Tel: +44 845 080 1800

Some companies may offer you new loans or invite you to sell your property to them and then lease it back as a way of resolving your short term financial difficulty. Please be careful, as such actions may not be in your long term interests. We would advise you to seek independent advice before entering into any arrangement of this type.

You may be thinking about handing you keys to us. If you do this, you will still owe us any outstanding debt, and we would advise you to discuss this option with us before taking any such action.

Most importantly - do not be afraid or embarrassed to ask for help. Litigation and repossession are always a last resort. The sooner you contact, the sooner we can consider all options available to you.

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.