What Mortgage
No Result
View All Result
what MORTGAGE Awards
  • Login
  • Register
Add Listing
  • Home
  • News
  • First-Time Buyers
  • Buy-to-Let
  • Homeowner’s Hub
  • Equity Release
  • wM Awards
No Result
View All Result
What Mortgage
No Result
View All Result

What’s the Mortgage Charter and how will it help you?

June 27, 2023
admin1by admin1
Over 60,000 homes bought using Help to Buy Equity loans since launch

Related Posts

Testing Post to delete

by admin1
May 8, 2025
0

...

Understanding the language of conveyancing law: part two

Confused over life insurance jargon – what do the terms mean?

by admin1
April 24, 2025
0

...

Do I have to extend my lease to remortgage?

Leasehold reforms: How will they impact your home purchase?

by admin1
April 16, 2025
0

...

For any homeowner about to exit a fixed-rate deal there is a very real concern about the price of remortgaging.

Likewise, if you are on a tracker or variable deal you will have seen your monthly repayments ticking upwards for some time now.

Data from the Resolution Foundation suggests annual repayments for those due to remortgage next year are likely to rise by £2,900 – from £2,000. That’s a lot of extra money to find when the cost of living is already putting immense pressure on household budgets.

It is therefore unsurprising many borrowers will be facing the prospect they may not meet their monthly obligation to their lender.

If this is something you have been fearing, or are encountering right now then the news lenders have made a commitment to support borrowers in difficulty will come as something of a relief.

But what, exactly, has been agreed and how can it help you. Here’s our rundown of what support is now available.

All lenders who have signed what is being called the Mortgage Charter have agreed to abide by the following pledges. Around 85% of UK lenders have signed up to this.

Anyone worried about their mortgage repayments can contact their lender for help and guidance, and it will not negatively impact their credit file

For customers who are up to date with payments to far

There will be support for customers who are up-to-date with payments to switch to a new mortgage deal at the end of their existing fixed rate deal without another affordability check.

Lenders will provide well-timed information to help customers plan ahead should their current rate be due to end.

They will also offer tailored support from ‘highly-trained’ staff to help anyone struggling with repayments. For those who are up to date with repayments so far, there will be options to:

  • Extend the term to reduce payments with the option to revert to original term after six months
  • Switch to interest-only payments for six months
  • Temporary payment holiday
  • Switching to part interest-only, part repayment

For borrowers who are in arrears

One significant area of the charter is that from 26 June borrowers will not be forced to leave their home without consent in less than a year from their first missed payment.

So, repossession procedures will not be issued for up to a year after a borrower misses a payment. It is expected banks and lenders will continue working with the customer to help them during this time.

Support for customers remortgaging

At present lenders offer borrowers the chance to sign up to a mortgage between three to six months before it becomes live. This gives customers the chance to lock into a deal earlier and potentially before rates rise further. But not all lenders offer the six-month option.

Help for homeowners on benefits

If you are on benefits, there is financial help available in the form of Support for Mortgae Interest which provides eligible homeowners with help towards interest payments.

The government said this is now easier to access and those on Universal Credit can get help after three months.

 

Tags: arrearshome repossessionsinterest onlymortgage repayments
ShareTweetPin

Our recommended tools

Mortgage Calculators

Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus leo.

Mortgage Match

Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus leo.

Mortgage Best Buys

Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus leo.

Mortgage Search

Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus leo.

Comments 0

  1. Paul Maddocks says:
    2 years ago

    I receive Personal Independence Payment (PIP) for a brain injury I incurred. However I’m not on UC. Would only PIP benefit qualify me for help with mortgage interest?

    Reply

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Next Post
Second steppers: Getting onto the ladder easier than climbing up

Savings account launched to help shared ownership borrowers ‘staircase’

  • Home
  • Features
  • First-Time Buyer
  • Buy-to-Let
  • Remortgage
  • Equity Release
  • Insurance
  • Home Buying
  • Property Market
  • what MORTGAGE Awards
  • Podcasts
  • Advice Archive
  • Essentials
  • Advertise
  • packages

© 2025 JNews - Premium WordPress news & magazine theme by Jegtheme.

[MBM_Form id="284841"]

Buying a property, moving home or re-mortgaging? Sign up to our newsletter and marketing emails, and we'll send all the latest mortgage news, top tips, expert advice and what MORTGAGE Awards updates straight to your inbox.

I am a...*
First Name*
Email*
First Name*
Last Name*
Email*
Company
Job Title
I would like to receive...
[MBM_Form id="284841"]

Buying a property, moving home or re-mortgaging? Sign up to our newsletter and marketing emails, and we'll send all the latest mortgage news, top tips, expert advice and what MORTGAGE Awards updates straight to your inbox.

I am a...*
First Name*
Email*
First Name*
Last Name*
Email*
Company
Job Title
I would like to receive...
No Result
View All Result
  • 2013 Awards Nominees
  • 2014 What Mortgage Awards nominations – voting now open!
  • 2016 What Mortgage Awards
  • 2021 What Mortgage Awards – Call for nominations
  • 2021 What Mortgage Awards – Nominee shortlist revealed
  • 2025 what MORTGAGE Awards: About
  • Aberdein Considine
  • About House Price Data
  • About us
  • Add Listing
  • Add Profile listing
  • Advertise
  • Advice
    • Ask the Experts
      • Halifax
      • Mortgages for Business – Buy-to-Let
      • Virgin Money
    • Book Reviews
      • Retire Early Retire Wealthy by Roly Weaver
      • Sorting Out Your Finances For Dummies
    • Rebekanomics
      • April 2014 – Rebekanomics
      • August 2013 – Rebekanomics
      • December 2013 – Rebekanomics
      • February 2014 – Rebekanomics
      • January 2014 – Rebekanomics
      • July 2013 – Rebekanomics
      • July 2014 – Rebekanomics
      • June 2013 – Rebekanomics
      • June 2014 – Rebekanomics
      • May 2014 – Rebekanomics
      • November 2013 – Rebekanomics
    • September 2013 – Rebekanomics
  • AOL Webmail
  • Apple Mail
  • April 2017 Buy to Let Mortgage Advice
  • April 2017 Residential Mortgage Advice
  • Ask the expert
  • Awards
  • Best Buys
  • Best Buys
  • Best Buys – Equity Release
  • Buy-to-Let Mortgage Advice
  • Buy-to-let mortgages
  • Calculators
    • How much can i borrow on a buy to let mortgage?
    • How much can I borrow?
    • How much rent should I charge?
    • How much stamp duty will I pay?
    • How much will my payments be?
    • What if I overpay my mortgage
  • Cart
  • Checkout
  • Contact Us
  • Dashboard
  • Directory landing page
  • Directory of Lending Criteria
  • Discount Tables
  • Energy performance certificates (EPCs)
  • Equity Release
  • Equity Release Calculator
  • Equity Release Mortgage Advice
  • Equity Release Supermarket Archive Page
  • Equity Release Supermarket: Equity Release Mortgage Advice – April 2019
  • Equity Release Supermarket: Equity Release Mortgage Advice – April 2020
  • Equity Release Supermarket: Equity Release Mortgage Advice – April 2021
  • Equity Release Supermarket: Equity Release Mortgage Advice – April 2022
  • Equity Release Supermarket: Equity Release Mortgage Advice – August 2019
  • Equity Release Supermarket: Equity Release Mortgage Advice – August 2020
  • Equity Release Supermarket: Equity Release Mortgage Advice – August 2021
  • Equity Release Supermarket: Equity Release Mortgage Advice – August 2022
  • Equity Release Supermarket: Equity Release Mortgage Advice – December 2019
  • Equity Release Supermarket: Equity Release Mortgage Advice – December 2020
  • Equity Release Supermarket: Equity Release Mortgage Advice – December 2021
  • Equity Release Supermarket: Equity Release Mortgage Advice – December 2022
  • Equity Release Supermarket: Equity Release Mortgage Advice – February 2020
  • Equity Release Supermarket: Equity Release Mortgage Advice – February 2021
  • Equity Release Supermarket: Equity Release Mortgage Advice – February 2022
  • Equity Release Supermarket: Equity Release Mortgage Advice – February 2023
  • Equity Release Supermarket: Equity Release Mortgage Advice – January 2020
  • Equity Release Supermarket: Equity Release Mortgage Advice – January 2021
  • Equity Release Supermarket: Equity Release Mortgage Advice – January 2022
  • Equity Release Supermarket: Equity Release Mortgage Advice – January 2023
  • Equity Release Supermarket: Equity Release Mortgage Advice – July 2019
  • Equity Release Supermarket: Equity Release Mortgage Advice – July 2020
  • Equity Release Supermarket: Equity Release Mortgage Advice – July 2021
  • Equity Release Supermarket: Equity Release Mortgage Advice – July 2022
  • Equity Release Supermarket: Equity Release Mortgage Advice – June 2019
  • Equity Release Supermarket: Equity Release Mortgage Advice – June 2020
  • Equity Release Supermarket: Equity Release Mortgage Advice – June 2021
  • Equity Release Supermarket: Equity Release Mortgage Advice – June 2022
  • Equity Release Supermarket: Equity Release Mortgage Advice – March 2020
  • Equity Release Supermarket: Equity Release Mortgage Advice – March 2021
  • Equity Release Supermarket: Equity Release Mortgage Advice – March 2022
  • Equity Release Supermarket: Equity Release Mortgage Advice – May 2019
  • Equity Release Supermarket: Equity Release Mortgage Advice – May 2020
  • Equity Release Supermarket: Equity Release Mortgage Advice – May 2021
  • Equity Release Supermarket: Equity Release Mortgage Advice – May 2022
  • Equity Release Supermarket: Equity Release Mortgage Advice – November 2019
  • Equity Release Supermarket: Equity Release Mortgage Advice – November 2020
  • Equity Release Supermarket: Equity Release Mortgage Advice – November 2021
  • Equity Release Supermarket: Equity Release Mortgage Advice – November 2022
  • Equity Release Supermarket: Equity Release Mortgage Advice – October 2019
  • Equity Release Supermarket: Equity Release Mortgage Advice – October 2020
  • Equity Release Supermarket: Equity Release Mortgage Advice – October 2020
  • Equity Release Supermarket: Equity Release Mortgage Advice – October 2021
  • Equity Release Supermarket: Equity Release Mortgage Advice – October 2022
  • Equity Release Supermarket: Equity Release Mortgage Advice – September 2019
  • Equity Release Supermarket: Equity Release Mortgage Advice – September 2020
  • Equity Release Supermarket: Equity Release Mortgage Advice – September 2021
  • Equity Release Supermarket: Equity Release Mortgage Advice – September 2022
  • Essential Links
  • Essentials
    • At a glance
      • First-time buyers
      • Home selling
      • Offset mortgages
    • Fact file
      • If things go wrong
      • Making an offer
      • Repaying debts
      • The costs
      • Which mortgage is right for me?
    • Guides
      • Home buyer’s checklist
      • Home mover’s checklist
      • Home seller’s checklist
  • Events
  • Feature – What is mortgage protection and do I need it?
  • Featured finalists
  • Featured Winners: what MORTGAGE Awards 2024
  • February/March Buy to Let Mortgage Advice
  • Fixed Tables
  • Flexible
  • Gmail
  • Home
  • Home insurance
  • House Price Finder
  • House Price Search
  • How do I find a good estate agent to sell my home?
  • How much can I borrow?
  • How Much Is My House Worth?
  • January Feature – What’s a mortgage broker and how do you find one to help you?
  • June 2017
  • Life insurance
  • Login or Register
  • May 2017
  • MBM Directory Search Form
  • Media Information 2018
  • Microsoft Outlook
  • Mortgage Business expo
  • Mortgage Enquiry
  • Mortgage for Business – June 2017
  • Mortgage for Business – May 2017
  • Mortgage Match
  • Mortgages for Business – Residential
  • Mortgages for Business: Buy to Let Mortgage Advice – April 2018
  • Mortgages for Business: Buy to Let Mortgage Advice – April 2019
  • Mortgages for Business: Buy to Let Mortgage Advice – April 2020
  • Mortgages for Business: Buy to Let Mortgage Advice – April 2021
  • Mortgages for Business: Buy to Let Mortgage Advice – April 2022
  • Mortgages for Business: Buy to Let Mortgage Advice – August 2018
  • Mortgages for Business: Buy to Let Mortgage Advice – August 2019
  • Mortgages for Business: Buy to Let Mortgage Advice – August 2020
  • Mortgages for Business: Buy to Let Mortgage Advice – August 2021
  • Mortgages for Business: Buy to Let Mortgage Advice – August 2022
  • Mortgages for Business: Buy to Let Mortgage Advice – December 2018
  • Mortgages for Business: Buy to Let Mortgage Advice – December 2019
  • Mortgages for Business: Buy to Let Mortgage Advice – December 2020
  • Mortgages for Business: Buy to Let Mortgage Advice – December 2021
  • Mortgages for Business: Buy to Let Mortgage Advice – December 2022
  • Mortgages for Business: Buy to Let Mortgage Advice – February 2019
  • Mortgages for Business: Buy to Let Mortgage Advice – February 2020
  • Mortgages for Business: Buy to Let Mortgage Advice – February 2021
  • Mortgages for Business: Buy to Let Mortgage Advice – February 2022
  • Mortgages for Business: Buy to Let Mortgage Advice – February 2023
  • Mortgages for Business: Buy to Let Mortgage Advice – January 2019
  • Mortgages for Business: Buy to Let Mortgage Advice – January 2020
  • Mortgages for Business: Buy to Let Mortgage Advice – January 2021
  • Mortgages for Business: Buy to Let Mortgage Advice – January 2022
  • Mortgages for Business: Buy to Let Mortgage Advice – July 2019
  • Mortgages for Business: Buy to Let Mortgage Advice – July 2020
  • Mortgages for Business: Buy to Let Mortgage Advice – July 2021
  • Mortgages for Business: Buy to Let Mortgage Advice – July 2022
  • Mortgages for Business: Buy to Let Mortgage Advice – June 2019
  • Mortgages for Business: Buy to Let Mortgage Advice – June 2020
  • Mortgages for Business: Buy to Let Mortgage Advice – June 2021
  • Mortgages for Business: Buy to Let Mortgage Advice – June 2022
  • Mortgages for Business: Buy to Let Mortgage Advice – June/July 2018
  • Mortgages for Business: Buy to Let Mortgage Advice – March 2019
  • Mortgages for Business: Buy to Let Mortgage Advice – March 2020
  • Mortgages for Business: Buy to Let Mortgage Advice – March 2021
  • Mortgages for Business: Buy to Let Mortgage Advice – March 2022
  • Mortgages for Business: Buy to Let Mortgage Advice – March 2023
  • Mortgages for Business: Buy to Let Mortgage Advice – May 2018
  • Mortgages for Business: Buy to Let Mortgage Advice – May 2019
  • Mortgages for Business: Buy to Let Mortgage Advice – May 2020
  • Mortgages for Business: Buy to Let Mortgage Advice – May 2021
  • Mortgages for Business: Buy to Let Mortgage Advice – May 2022
  • Mortgages for Business: Buy to Let Mortgage Advice – November 2018
  • Mortgages for Business: Buy to Let Mortgage Advice – November 2019
  • Mortgages for Business: Buy to Let Mortgage Advice – November 2020
  • Mortgages for Business: Buy to Let Mortgage Advice – November 2021
  • Mortgages for Business: Buy to Let Mortgage Advice – November 2022
  • Mortgages for Business: Buy to Let Mortgage Advice – October 2017
  • Mortgages for Business: Buy to Let Mortgage Advice – October 2018
  • Mortgages for Business: Buy to Let Mortgage Advice – October 2019
  • Mortgages for Business: Buy to Let Mortgage Advice – October 2020
  • Mortgages for Business: Buy to Let Mortgage Advice – October 2021
  • Mortgages for Business: Buy to Let Mortgage Advice – October 2022
  • Mortgages for Business: Buy to Let Mortgage Advice – September 2017
  • Mortgages for Business: Buy to Let Mortgage Advice – September 2018
  • Mortgages for Business: Buy to Let Mortgage Advice – September 2019
  • Mortgages for Business: Buy to Let Mortgage Advice – September 2020
  • Mortgages for Business: Buy to Let Mortgage Advice – September 2021
  • Mortgages for Business: Buy to Let Mortgage Advice – September 2022
  • Mortgages for Business: Buy to Let Mortgage Advice: March 2018
  • Mortgages for Business: Residential Mortgage Advice – April 2018
  • Mortgages for Business: Residential Mortgage Advice – April 2019
  • Mortgages for Business: Residential Mortgage Advice – April 2020
  • Mortgages for Business: Residential Mortgage Advice – April 2021
  • Mortgages for Business: Residential Mortgage Advice – April 2022
  • Mortgages for Business: Residential Mortgage Advice – August 2018
  • Mortgages for Business: Residential Mortgage Advice – August 2019
  • Mortgages for Business: Residential Mortgage Advice – August 2020
  • Mortgages for Business: Residential Mortgage Advice – August 2021
  • Mortgages for Business: Residential Mortgage Advice – August 2022
  • Mortgages for Business: Residential Mortgage Advice – December 2018
  • Mortgages for Business: Residential Mortgage Advice – December 2019
  • Mortgages for Business: Residential Mortgage Advice – December 2020
  • Mortgages for Business: Residential Mortgage Advice – December 2021
  • Mortgages for Business: Residential Mortgage Advice – December 2022
  • Mortgages for Business: Residential Mortgage Advice – February 2019
  • Mortgages for Business: Residential Mortgage Advice – February 2020
  • Mortgages for Business: Residential Mortgage Advice – February 2021
  • Mortgages for Business: Residential Mortgage Advice – February 2022
  • Mortgages for Business: Residential Mortgage Advice – February 2023
  • Mortgages for Business: Residential Mortgage Advice – January 2019
  • Mortgages for Business: Residential Mortgage Advice – January 2020
  • Mortgages for Business: Residential Mortgage Advice – January 2021
  • Mortgages for Business: Residential Mortgage Advice – January 2022
  • Mortgages for Business: Residential Mortgage Advice – January 2023
  • Mortgages for Business: Residential Mortgage Advice – July 2019
  • Mortgages for Business: Residential Mortgage Advice – July 2020
  • Mortgages for Business: Residential Mortgage Advice – July 2021
  • Mortgages for Business: Residential Mortgage Advice – July 2022
  • Mortgages for Business: Residential Mortgage Advice – June 2019
  • Mortgages for Business: Residential Mortgage Advice – June 2020
  • Mortgages for Business: Residential Mortgage Advice – June 2021
  • Mortgages for Business: Residential Mortgage Advice – June 2022
  • Mortgages for Business: Residential Mortgage Advice – June/July 2018
  • Mortgages for Business: Residential Mortgage Advice – March 2018
  • Mortgages for Business: Residential Mortgage Advice – March 2019
  • Mortgages for Business: Residential Mortgage Advice – March 2020
  • Mortgages for Business: Residential Mortgage Advice – March 2021
  • Mortgages for Business: Residential Mortgage Advice – March 2022
  • Mortgages for Business: Residential Mortgage Advice – March 2023
  • Mortgages for Business: Residential Mortgage Advice – May 2018
  • Mortgages for Business: Residential Mortgage Advice – May 2019
  • Mortgages for Business: Residential Mortgage Advice – May 2020
  • Mortgages for Business: Residential Mortgage Advice – May 2021
  • Mortgages for Business: Residential Mortgage Advice – May 2022
  • Mortgages for Business: Residential Mortgage Advice – November 2018
  • Mortgages for Business: Residential Mortgage Advice – November 2019
  • Mortgages for Business: Residential Mortgage Advice – November 2020
  • Mortgages for Business: Residential Mortgage Advice – November 2021
  • Mortgages for Business: Residential Mortgage Advice – November 2022
  • Mortgages for Business: Residential Mortgage Advice – October 2017
  • Mortgages for Business: Residential Mortgage Advice – October 2018
  • Mortgages for Business: Residential Mortgage Advice – October 2019
  • Mortgages for Business: Residential Mortgage Advice – October 2020
  • Mortgages for Business: Residential Mortgage Advice – October 2021
  • Mortgages for Business: Residential Mortgage Advice – October 2022
  • Mortgages for Business: Residential Mortgage Advice – September 2017
  • Mortgages for Business: Residential Mortgage Advice – September 2018
  • Mortgages for Business: Residential Mortgage Advice – September 2019
  • Mortgages for Business: Residential Mortgage Advice – September 2020
  • Mortgages for Business: Residential Mortgage Advice – September 2021
  • Mortgages for Business: Residential Mortgage Advice – September 2022
  • MPPI
  • My account
  • Newsletter new e-shot
  • Newsletter sign-up process
  • Newsletter Signup
  • Nominations for the 2017 What Mortgage awards is now open
  • Nominations for What Mortgage Awards 2016 now open
  • October 2013 – Rebekanomics
  • Outlook.com
  • packages
  • Profile
  • Profile: The Insurance Surgery
  • Q&A’s: Principality
  • Q&A’s: Purple Bricks Mortgages
  • Receive a free copy
  • Register your interest: what MORTGAGE Awards 2025
  • Remortgage
  • Remortgaging
  • Residential Mortgage Advice
  • Safe Sender instructions
  • Search results
  • Shop
  • Sitemap
  • Test page to be deleted
  • Thunderbird
  • Two factor authentication [2FA] Setup
  • Virgin – June 2013
  • Website feedback
  • Weekly What Mortgage newsletter Thank you
  • what MORTGAGE Awards
    • 2011 Awards Nominees
    • 2011 Awards Results
    • 2012 Awards
    • 2012 Awards Nominations
    • 2012 Awards Results
    • 2012 Nomination Spotlights
    • 2013 What Mortgage Awards – Winners
    • 2014 What Mortgage Awards – Winners
    • 2015 What Mortgage Awards – Winners
    • 2016 What Mortgage Awards – Winners
    • 2017 What Mortgage Awards – Winners
    • 2018 What Mortgage Awards – Winners
    • 2019 What Mortgage Awards – Winners
    • 2020 What Mortgage Awards – Winners
    • 2021 What Mortgage Awards – Winners
    • 2022 What Mortgage Awards – Nominee shortlist revealed
    • 2022 What Mortgage Awards – Winners
    • 2023 What Mortgage Awards
    • 2023 What Mortgage Awards – Nominations now open!
    • 2023 What Mortgage Awards – Nominee shortlist revealed
    • 2023 What Mortgage Awards – Winners
    • 2024 What Mortgage Awards – Nominee shortlist revealed
    • Award Winners 2009
    • Enter your nominations for the 2022 What Mortgage Awards
    • Personal Finance Awards 2010 – Winners/Highly Commended
    • Personal Finance Awards 2010/11 Nominees
    • What Mortgage Awards 2011 Nominees
  • what MORTGAGE Awards – Thank you
  • What Mortgage Awards 2018 – Nominee Shortlists announced
  • What Mortgage Awards 2020 nominee shortlists revealed
  • what MORTGAGE Awards 2024: Winners revealed
  • what MORTGAGE Awards 2025: Nominations
  • what MORTGAGE Awards 2025: Voting
  • What Mortgage Awards: Help us find the best in the business
  • What Mortgage Service Standard Awards 2015
  • What Mortgage TV
  • WM newsletters
  • wmhome
  • Yahoo

© 2025 JNews - Premium WordPress news & magazine theme by Jegtheme.