CCCS | InfoCentre | Scotland

Mortgages

If you are having difficulties paying your mortgage or secured loan you will find information in this section to help you.

Whether you have mortgage arrears or need some advice on repossession these pages will explain what your lender can and cannot do and the options you have to resolve the situation.

You will also find information about different types of mortgages as well as the types of assistance that are available to help you with your mortgage payments.

If you have a repossession hearing or an eviction date please call our Helpline on 0800 138 1111 so we can give you some immediate advice. We have a specialist mortgage counselling team who will be able to advise and assist you further.

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FAQs

How will my credit rating be affected by mortgage arrears?

Late or missed payments will show on your credit file for 6 years, as will repossession proceedings. This may make it more difficult to re-mortgage or obtain credit.

My mortgage lender keeps putting on charges, what should I do?

If you are in arrears with your mortgage or your secured loan, your lender may add monthly charges to your account. The charges they can add to your account will be in the terms and conditions of your mortgage or loan agreement. If you feel that your lender is adding unreasonable charges to your account you should contact the Financial Ombudsman Service.

How do I remortgage?

If you are worried about your mortgage payments you may be able to remortgage. This could lower your interest rate and your payments. You could speak to your current lender or contact an independent mortgage broker. The mortgage deal you can get will depend on how much equity there is in your property and your credit rating.

What is repossession?

Repossession is the name for the legal process where a mortgage lender or secured loan provider tries to take possession of a property. If you miss mortgage payments your lender may be able to ask the courts to evict you from your house. Your lender will then sell the property.