The Citizens Advice can provide free help to those who are in arrears with their mortgage repayments or who are having difficulty keeping up with repayments. The CAB saw an increase of over 42% for those coming to them for mortgage advice in 2009 and it is hoped that some property owners may have been able to avoid losing their homes due to this help.
While advice and help may lead to some homeowners being able to get back on track with repayments, this help comes too late for others and repossession is only a matter of time. If you cannot repay your mortgage arrears, you may wish to look into another option such as sell and rent back.
When you take a buy rent back solution, you are allowed to buy back the property at the pre agreed price. Paying monthly rent may be a suitable option if you cannot bear leaving your home and it could provide you with the time needed for you to be able to get back on your feet again. However always ensure that you use a FSA regulated company.