Support for Homeowners

Owning your home can provide security and stability, but financial difficulties, changes in circumstances or rising household costs can sometimes make it harder to keep up with mortgage payments and other housing-related expenses.

If you're struggling, support may be available. Understanding your options early can help prevent financial problems from becoming more serious.

There are several forms of financial support that may be available to homeowners, depending on their circumstances.

This can include:

• Support with mortgage interest.
• Benefits and income-related support.
• Help with household bills.
• Debt advice.
• Grants and hardship funds.
• Assistance from mortgage lenders.

The type of support available will depend on your individual situation.

Support for Mortgage Interest (SMI) is a government loan that may help eligible homeowners with the interest on their mortgage.

You may be able to apply for SMI if you receive certain benefits, such as:

• Universal Credit.
• Pension Credit.
• Income-related Employment and Support Allowance (ESA).

SMI does not cover mortgage arrears, capital repayments or insurance policies, and any support received is normally repayable.

Many homeowners are surprised to learn they may be entitled to additional financial support.

Depending on your circumstances, you may qualify for:

• Universal Credit.
• Pension Credit.
• Personal Independence Payment (PIP).
• Attendance Allowance.
• Carer's Allowance.
• Child Benefit.

A benefits check can help identify support you may not currently be receiving.

If rising household costs are affecting your ability to manage your finances, support may be available with:

• Energy bills.
• Water charges.
• Council Tax.
• Broadband and telephone costs.

Available schemes may include:

• Warm Home Discount.
• Council Tax Reduction.
• Household Support Fund.
• Social tariffs.
• Water bill assistance schemes.

Reducing your household outgoings can help free up money for essential housing costs.

If you're struggling to pay your mortgage, contact your lender as soon as possible.

Many lenders have specialist support teams and may be able to discuss:

• Temporary payment arrangements.
• Reduced monthly payments.
• Changes to your mortgage term.
• Other support options depending on your circumstances.

The earlier you speak to your lender, the more options are likely to be available.

A household budget can help you understand:

• How much money is coming into your household.
• Your essential living costs.
• Any areas where spending could be reduced.
• What you can realistically afford.

Budgeting can also help identify whether additional support may be needed.

If debt repayments are making it difficult to afford your mortgage or household bills, advice is available.

Support may include:

• Budgeting advice.
• Debt repayment plans.
• Negotiating with creditors.
• Debt solutions where appropriate.

Seeking advice early can help prevent debts from escalating.

If a health condition or disability is affecting your ability to work or manage household costs, additional support may be available.

This may include:

• Personal Independence Payment (PIP).
• Attendance Allowance.
• Employment and Support Allowance (ESA).
• Other health-related support schemes.

These benefits are often based on how your condition affects you rather than your diagnosis.

Older homeowners may be entitled to:

• Pension Credit.
• Council Tax support.
• Winter Fuel Payments.
• Warm Home Discount.
• Help with health-related costs.

Many pensioners miss out on support they are entitled to, so it is always worth checking.

You should consider seeking advice if you are:

• Missing mortgage payments.
• Using credit to pay household bills.
• Falling behind on Council Tax.
• Struggling with utility bills.
• Using an overdraft regularly.
• Worried about losing your home.

The earlier you seek support, the easier it can be to address financial difficulties.

"Help Is Only Available To Renters"

"I Earn An Income So I Can't Get Support"

"I'll Lose My Home If I Miss A Payment"

"There's No Point Asking For Help"

Many people are surprised by the support and options available once they seek advice.

Our advisors can help you:

• Check your entitlement to benefits and support.
• Create a realistic household budget.
• Understand mortgage arrears and repayment options.
• Explore grants and hardship funds.
• Access free, confidential money and debt advice.

Contact our team for free, confidential advice and support.