Whether it’s your mortgage, rent, or service charges, it’s crucial to contact your mortgage lender and landlord as soon as you foresee any payment difficulties.
They may be able to offer solutions such as a payment plan or provide financial advice. If payments continue to be missed, there’s a risk of repossession.
Both parties would generally prefer to find a workable solution rather than proceed with repossession, as it saves time and costs for everyone involved.