We aim to make our website as accessible as possible. However if you use a screen reader and require debt advice you may find it easier to phone us instead. Our phone number is 0 8 0 0 1 3 8 1 1 1 1. Freephone (including all mobiles).

Debt solutions and your home

Helping you unlock your options as a homeowner.

Call us now for FREE

0808 1686 719

Monday to Friday 9am to 5pm

Looking for other ways to get debt help? Find out how to contact us.

Mortgages and renting on a debt solution

Find out how being on a debt solution can affect your mortgage or rental agreement.

Different debt solutions can impact your mortgage or rental agreement in different ways.

With some solutions, you may:

  • Need to sell your home
  • Find it harder to rent somewhere new
  • Find it harder to get a mortgage

Sharing a rental agreement or mortgage means you have ‘joint debts’. You both can have action taken against you. If the other person has a debt solution that could affect this, you need to know.

household bills iconWorried about money and your mortgage?

Maybe it is a strain to keep on top of monthly spending. Or you don't know what to do when your fixed rate mortgage ends.

Together, we can look at your situation and unlock your options.

Read our homeowner guides.

Mortgages and debt solutions

You need to know how a debt solution can affect your mortgage.

Make sure you get free and impartial debt advice first.

Debt management plans (DMPs) and mortgages

I already have a mortgage

  • Keep on top of your mortgage payments, if you can
  • Contact your provider if it is getting hard to keep to your budget
  • You may need smaller monthly payments or another option. Talk to your provider

Are you a StepChange client? Visit our DMP client support hub.

I need a new mortgage

DMP payments are recorded on your credit file as reduced payments.

This shows lenders that:

  • You have had financial difficulties
  • You are dealing with them

Lenders could:

  • Decide you are high risk to lend to
  • Set you higher rates or fees

You should think carefully about whether an offer is really affordable. You do not want to risk falling behind with payments.

Find out more about debt management plans.

Bankruptcy and mortgages

There are different types bankruptcy across the UK. This advice applies to all of them. It is important you understand how your bankruptcy works and how it can affect you.

I already have a mortgage

Bankruptcy is approved by an "Insolvency Practitioner" (IP).

Your IP could decide you need to sell your home.

This does not always happen. It depends on your circumstances.

Your IP will explain this to you.

I need a new mortgage

Bankruptcy is recorded on your credit file for:

  • Six years in England and Wales
  • Five years in Scotland

Most mortgage lenders will not consider lending in these cases.

Find out more about bankruptcy in England and Wales.

Find out more about bankruptcy in Scotland.

Individual voluntary arrangements (IVAs) and mortgages

I already have a mortgage

Your current mortgage is not usually included in an IVA. Continue making payments as normal.

Contact your supervisor if your mortgage payments change (for example, because of interest rates). They can adjust your IVA payments.

If you have equity in your home:

  • You may have to remortgage six months before the end of your IVA
  • This is so you can pay a ‘lump sum’ towards what you owe

I need a new mortgage

You are unlikely to get a new mortgage while in an IVA.

Discuss this with your IP.

Find out more about other debt solutions and how they work.

Protected Trust Deeds (PTD) and mortgages

I already have a mortgage

You may be able to include mortgage arrears in your PTD. But keep making your normal monthly payments.

Any equity you have in your property will be used to pay a lump sum into your PTD. Your IP will talk to you about ways to do this so that you do not lose your home.

  • You will be asked to remortgage within four years
  • Your PTD may be extended if you do not

I need a new mortgage

You are unlikely to get a new mortgage with a PTD.

Discuss this with your IP.

Guarantors for rent and mortgages

You can ask someone to ‘act as a guarantor’ if:

  • You are renting or
  • You have tried all other options for getting a mortgage

A guarantor is:

  • Someone who agrees to repay the amount owed if you cannot
  • Responsible for any debts in the agreement

Lenders have their own rules and guidelines, but usually guarantors will:

  • Be over 21 years old
  • Have good credit history
  • Have a separate bank account to you

You can guarantee a loan for a spouse or partner, but only if you have separate bank accounts. Find out more about guarantors.

Renting on a debt solution

It might be harder to get a new rental agreement when you move.

Some landlords and rental companies do credit checks.

They may not rent to you if you have bad credit.

Landlords get a limited view of:

  • Your credit score
  • Your debt solution on a public register

You can always ask for feedback. If they do not rent to you, ask them why.

Find out more about credit scores.

How can I increase my chances of renting with bad credit?

Your chances of being approved for a rental property may increase if you:

  • Offer a higher security deposit
  • Offer to pay more regular fees up-front
  • Give them a budget showing you can afford the rent
  • Show proof that your income is safe
  • Use a guarantor

Jacqueline on Feefo says

"StepChange saved our lives."

"StepChange saved me and my mum's lives. Our home is a huge part of our lives, and had it not been for StepChange we would have lost our home. The moment I called StepChange you were professional, supportive and reliable."

Get help like Jacqueline

Related articles

StepChange Financial Solutions is a registered trading name of Consumer Credit Counselling Service (Equity Release) Ltd. Authorised and regulated by the Financial Conduct Authority. FCA reg. no. 517674.

Debt happens. We deal with it.

We have helped millions of people since 1993.

Find out how.

"Amazing."

"I thought I was going to lose my house but with the help and support of your amazing team, myself and my boys have a home.

"Thank you from the bottom of my heart."

Helen, Feefo Review