Help with mortgages

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Support for Mortgage Interest (SMI)

If you’re on certain benefits and you’re struggling to pay your mortgage, you might be able to get help from the government to pay the interest on your mortgage. This is called Support for Mortgage Interest (SMI).

How to prepare for an interest rate rise

Interest rates can have an impact on a wide range of areas including mortgages, borrowing, pensions and savings. The Bank of England sets the bank rate (or ‘base rate’) for the UK, which is currently 0.5%. This, in turn, can influence the cost of borrowing or the rate of interest charged when financial institutions, such as banks, lend money.

Dealing with an endowment shortfall

If you took out an endowment policy in the 1980s or 1990s to repay your interest-only mortgage but you’re facing a shortfall it’s important to take action now. The longer you delay, the higher the cost of making up the shortfall. Here’s what you need to do now.

Compensation if you’ve lost money through mis-selling

If your adviser has gone bust and you’ve lost money because of their negligence, you might be able to get something back through the Financial Services Compensation Scheme. Check your rights for mis-sold mortgages, pensions, insurance and other investments and find out when and how to make a claim.

What to do when things go wrong – payments

The right way to handle a problem with payments or transfers depends on how the payment is made. This guide covers the full range of payment methods, with advice on how to handle problems that arise and what you can do to prevent problems in the first place.

How does remortgaging work?

Wondering how to remortgage your home? This guide will take you through everything you need to know about the process, including how much remortgaging your property might cost and what you need to consider before going ahead.

A guide to mortgage payment holidays

With some mortgages you can apply for a ‘mortgage payment holiday’ if money is tight. Find out how mortgage payment holidays work, the circumstances in which you might be granted one and the pros and cons of getting one.

Should you pay off your mortgage early?

With mortgage interest rates so low, some argue that there’s no point in paying off your mortgage early. Others argue that paying off debt is always a good idea in an uncertain economy. We weigh up the options, so you can decide.

A guide to mortgage fees and costs

There are a number of fees and charges you might need to pay if you’re taking out a mortgage. These include mortgage broker fees, adviser fees, valuation fees, arrangement fees and more. Use our handy mortgage costs table to find out how they all work and how much you might have to pay.

Government help if you can’t pay your mortgage

If you’re struggling to meet your mortgage repayments there’s a range of government schemes that offer help. These include the Mortgage Rescue scheme, Support for Mortgage Interest, and other government benefits that might boost your income.

Understanding different types of mortgages

When choosing a mortgage, don’t just focus on the interest rate and fees you’ll be charged. You also need to consider what type of mortgage you want. Read our guide to find out the pros and cons of various mortgage types.

Mortgages – a beginner’s guide

Buying a home is the largest purchase you’re likely to make. Before you arrange your mortgage, make sure you know what you can afford to borrow. Find out where to get a mortgage, the different types and how the process works.

Keyfacts documents explaining your mortgage

When you apply for a mortgage you will be provided with information about a firm’s service. You must also be provided with some form of a mortgage illustration document(s) at the point where a product is recommended or chosen. Alternatively you can ask for it at any time. When the lender finally agrees to lend the money to you (after they have carried out all the necessary checks), they will send you a Mortgage Offer. This guide explains why it’s important that you understand the information and documents you will receive and how i can help you get a better mortgage deal

Mortgage comparison checklist

Once you know how much you can borrow and the deposit required, you need to compare the mortgages available on the market. This means looking at more than just mortgage rates and making sure you pick a product that makes sense for your lifestyle. Use this checklist to help you compare and decide which mortgage features are most important to you.

Financial mis-selling – what to do if you're affected

If your bank or another financial company sold you a product that wasn’t suitable for you, you might get compensation if you make a complaint. If you are unhappy with your firm’s response, the Financial Ombudsman Service or Pensions Ombudsman might accept and investigate your complaint for free.

Why it pays to review your mortgage regularly

Is your current mortgage as competitive as the best new deals on the market today? You can save hundreds – perhaps thousands – of pounds by shopping around, so it’s a good idea to review your mortgage at least once a year to check whether you should switch to a better deal.

Mis-sold endowment mortgages

Do you think you were mis-sold an endowment mortgage? There is a time limit for borrowers who want to make a complaint and it is running out, so you need to act now.

Stay on top of your mortgage

Have you asked yourself how an interest rate rise of 1% could affect your monthly repayments? Dig out the keyfacts paperwork you received from your lender when you took out your mortgage. This shows your interest rate deal and when it ends.

Support for Mortgage Interest

If you’re on certain benefits and you’re struggling to pay your mortgage, you may be able to get help from the government to pay the interest on your mortgage. This is called Support for Mortgage Interest (SMI).

Find an adviser

If you decide you want financial advice, you can begin your search for the most appropriate regulated financial adviser for you by simply entering your postcode below: