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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’re in financial difficulty or experiencing financial pressures and you’re worried about paying your mortgage, we’re here to help. 

We’ll explain what steps we can take to help you and what options are available to you.  Please speak to our mortgage support team or your local branch and we’ll do our best to find a personalised, sustainable, repayment plan for your mortgage to support you through this difficult time.

The booklet What to do if you can’t pay your mortgage, provides information on the steps you can take, what to expect from us, the role of free debt advisers and how to access these services.  You can also see our section below on Free Debt Advice Services and other sources of help.

 

Contact us

Mortgage support team - 02890 160949 (Lines open Monday – Friday, 9am – 5pm) or email us at mortgagesupport@theprogressive.com.

Alternatively you can contact your local branch.

 

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.

Visit our Bereavement Support section for support.

Budget planner

Household finances can be a struggle, as the cost of living continues to rise, impacting all of us.  If you’re worried about your budget, use the MoneyHelper budget tool to help you take more control of your money.  

Budget Planner | Free online budget planning tool | MoneyHelper

If you’ve had a change in circumstances which has impacted your finances or debt position, please contact us and we’ll help to find a solution that works for you.

What we will do

  • Discuss the problem with you
  • Help you find a solution that works for you, based on your individual circumstances and financial situation and which is sustainable. This could mean arranging a new repayment plan with you, changing the way you make your payments or the date you make them, or allowing you to repay your mortgage over a longer period of time
  • Tell you what you need to know, so you can make an informed decision on how to proceed
  • Point you in the direction of other agencies who can help you during this time, such as Citizens Advice or free debt advice services

What we offer you, will depend on your personal, individual circumstances.  We encourage you to engage with us as soon as possible and tell us about your financial circumstances to help us provide an individual, tailored and sustainable payment plan.  Our team will discuss the options available to you and if we can’t help, we’ll tell you why and we’ll recommend trusted organisations who may be able to do so.

What you should do

  • Contact us as soon as you’re having problems repaying your mortgage or if you think that you might experience problems in the near future. The sooner you get in touch, the sooner we can agree a solution for you
  • If you’ve someone acting a guarantor on your mortgage, tell them about your circumstances
  • Seek free, independent and confidential debt advice for help with managing your finances (see the section below on ‘Other sources of help’)
  • Check whether you can get any state benefits, which could help to increase your income
  • If you have insurance policies, such as income protection, check whether they would help with your payments
  • Keep to the payment plan we agree with you or tell us if there is a change in your circumstances that may affect the payment arrangement
  • Tell us if you change address or there is a change to your circumstances.

Free Debt Advice Services and other sources of help

Debt advisers are organisations who can offer independent, confidential and free debt advice. 

They can help you work out your income and expenditure and complete your household budget.  They can help you find out if you’re entitled to extra income such as benefits and help to make sure the most important debts are paid first.

Below you will find some useful links.

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.

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We have 11 branches across Northern Ireland.

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