If you are having trouble paying your mortgage, we will try our very best to help you. This page explains how we will treat you fairly, and what steps you should take to help yourself.
If we cannot offer you any of these options, we will tell you why. If we can make one of these arrangements with you, we will explain how it will work and give you time to consider it. If we cannot offer any of these options, we might agree to you remaining in your home so that you can agree a sale of your property.
You may want to talk to a professional adviser, such as a debt counsellor or a lawyer, before you change your mortgage arrangements. We would strongly advise that you seek independent, free, debt advice.
We make no charges if you have a mortgage payment shortfall, but there may be costs if we have to take legal proceedings against you because we have not been able to agree a solution.
Some companies may offer you new loans or even 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 best interests. We would advise you to seek independent advice before entering into any arrangements of this type.
You may be thinking about handing your keys over to us. If you do this, you will still owe us any outstanding debt and this may affect your entitlements such as your eligibility for rehousing assistance from your local authority and so we would advise you to discuss your options with us before taking such action.
Click here to view the Society’s income and expenditure document
Our Income and Expenditure document is designed to gain a full picture of your financial situation to see if we are able to help you with the difficulties you are facing.
If you are experiencing financial difficulties you may wish to consider the following services:
The Governments money advice service provides independent advice on how to deal with mortgage payment shortfalls. You can access this service at – money advice service
The Citizens Advice Bureau (www.citizensadvice.org.uk) provide debt counselling and advice to help you deal with any financial problems.
The BSA (Building Societies Association) offer advice in this PDF document.
StepChange are a debt charity set-up to provide expert debt counselling services. Go to www.stepchange.org for more information.
Shelter also offer information on dealing with mortgage payment difficulties and wider housing issues. Go to https://www.shelter.org.uk/
Your Home May Be Repossessed If You Do Not Keep Up Repayments On Your Mortgage. Think Carefully Before Securing Other Debts Against Your Home. Get help > .
The Chorley and District Building Society is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Registered on the Financial Services Register under number 206023. Registered Office: Key House, Foxhole Road, Chorley, Lancashire PR7 1NZ.
Chorley and District Building Society is a member of the Building Societies Association and a participant of the Financial Ombudsman Service and Financial Services Compensation Scheme.
Your telephone conversations with the Society may be recorded. This is to help the Society to improve customer service and to offer additional security. Calls and electronic communications may also be monitored for staff training.