What to Do If I Can’t Pay My Mortgage

First of all, don’t panic. Missing a mortgage payment can feel overwhelming, but you’re not the first person to be in this situation, and you definitely won’t be the last. The most important thing you can do? Take action early. Your mortgage isn’t just another bill it’s the one to prioritise. But if things are tight or a payment’s looming and you’re short, here’s what to do.

 

Step 1: Don’t Ignore a Missed Mortgage Payment

Ignoring a missed mortgage payment won’t make it disappear. In fact, avoiding it can quickly lead to late payment charges, additional interest, credit file damage, and even the risk of repossession.

If you’re struggling with your mortgage - even if it’s just a one-off month - contact your lender straight away. Whether it’s due to redundancy, illness, reduced hours or rising costs, lenders have procedures in place to support people facing financial hardship.

 

Step 2: Speak to Your Mortgage Lender Early

This is where you put pride aside and pick up the phone. Explain what’s going on. Job loss, reduced hours, illness, rising costs they’ve heard it all before. The earlier you call, the more options you’ll have.

They might offer:

• A temporary payment holiday

• A switch to interest-only payments

• Restructuring your term to reduce monthly payments

• A temporary payment plan

Be honest and open - it shows you're taking the issue seriously and want to stay on track.

 

Step 3: Make Your Budget Mortgage-First

When money’s tight, your mortgage should always come first - before credit cards, subscriptions, takeaways or nights out.

Use an app like Klink to automatically track your spending and give you a clear breakdown of where your money is going.

Quick ways to cut costs:

• Cancel unused or unnecessary subscriptions

• Reduce energy bills by turning the heating down or switching providers

• Batch cook and meal plan to cut food waste

• Avoid Buy Now, Pay Later schemes or new credit

• Use public transport or walk when you can

Be firm with your budget. Protect your home first - luxuries can always return later.

 

Step 4: Look for Ways to Boost Your Income

Sometimes cutting costs isn’t enough. If you're struggling to make your mortgage payments, finding ways to increase your income, even short-term, can help relieve the pressure:

• Look into Universal Credit or other support

• Sell items you no longer need - phones, clothing, furniture

• Offer a skill online - tutoring, freelancing, babysitting

• Ask about overtime or secondment opportunities at work

With Klink, you can track income changes month to month, which helps when reviewing your affordability or updating your lender.

 

Step 5: Get Free, Professional Advice

You don’t have to face this on your own. Several charities and organisations offer free, confidential mortgage advice and may even speak to your lender on your behalf:

• StepChange

• Citizens Advice

• National Debtline

• Shelter

These services are non-judgemental and designed to support people exactly in your position.

 

Step 6: If It’s No Longer Affordable, Consider Long-Term Options

If your mortgage is no longer manageable - even after budgeting and support - you might need to consider a bigger decision.

• Downsizing to a more affordable home

• Choosing to rent if ownership costs are too high

• Selling the property before repossession proceedings begin

No one wants to make this choice, but doing it on your terms is far better than having the decision forced on you.

Facing It Head-On Beats Hiding

Money troubles feel isolating, but help exists - and the sooner you act, the more options you’ll have. Your mortgage is the foundation of your home life. Everything else can be trimmed, delayed, or negotiated.

Download Klink to get a clear view of your spending, spot savings opportunities, and plan ahead.

Make smarter choices now, so you stay in control of your finances - even when life throws a curveball.