Financial Difficulties
As a building society, we want to look after our Members, and we know that unexpected changes in life aren’t always positive.
If you, or someone you are caring for is suffering from an illness such as cancer, dementia or mental illness, and this is having an impact on your finances, please get in touch with our mortgage support team or your local branch. We will work with you come up with a personalised repayment plan for your mortgage, that you feel comfortable with, or find an alternative solution.
Contact us
Mortgage support team - 02890 160949 (Lines open Monday – Friday, 9am – 5pm)
Contact your local branch
For further support, there are a number of charities you can speak to such as:
Bereavement
Losing someone close to you can be devastating. We understand that you’ll be grieving and sorting out financial matters will be the last thing you’ll want to think about at such a difficult time.
Debt worries
If you’ve had a change in circumstances such as loss of earnings or reduced hours, and this has caused you to become concerned about your finances or debt, please don’t ignore it in the hope that it will go away. Get in touch with us as soon as you can, so that we can help you find a solution that works for you.
What we will do
- Discuss the problem with you
- Help you find a solution
- Tell you what you need to know, so you can make an informed decision
- Point you in the direction of other organisations who can help you during this time, such as Citizen’s Advice, or those highlighted above
- Put in a place a personalised plan for your future payments, based on your financial situation and circumstances
What we can offer will depend on your personal situation. Our team will discuss the options available to you, and if we can’t help, we’ll recommend trusted organisations who may be able to.
What you should do
- Contact us as soon as you think you are experiencing a problem
- If you have someone acting as guarantor on your mortgage, make sure you tell them of your circumstances
- Try to keep to the payment plan we agree with you
If you experience a further change in your circumstances that may affect the new arrangement, please let us know as soon as you can.
Other sources of help to consider
- Check whether you may be entitled to any state benefits or tax credits which could increase your income
- Check your insurance policy to see if it could help with your payments
- Contact a debt advice service such as Citizens Advice or Money Advice Service
Companies may contact you offering payday loans and similar products that may offer a short-term solution to debt concerns. These may not be the best long-term option, however, so please contact a debt advice service before taking out any additional loans.
Please note, your credit rating may negatively affected if you fall behind on mortgage payments. Please contact us as soon as possible to keep this to a minimum. Progressive Building Society must charge for reasonable administrative and legal costs in accordance with our Tariff of Charges.
Speak to our team today
If you have a query regarding your existing mortgage product or require information on our range of products you can call us, email us or pop into one of our 12 branches. We look forward to hearing from you.