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Opening hours: Mon – Fri 10:00 to 15:00 and Sat – Sun Closed
Life can present unexpected challenges at times. We at Beverley Building Society understand this. This guide will help you through the process when you face financial struggles, whether you are already in arrears or are worried about finding your next mortgage repayment.
You are not alone. We will listen, support and try to help without judgment. We just need you to contact us so that we can explore the options available.
We do not want you to lose your home. We will look into your financial situation together and work out the best way forward to suit your circumstances.
We want to help. We can let you know about other sources of help. We can, with your authority speak to a 3rd party, such as a relative if needed. This is useful if you are dealing with health issues including mental health. We can allow breathing space where appropriate. It’s not just about the debt, it’s about the person and helping them get through the situation.
We can help more if we have a full understanding of your circumstances. We may request information about your income, details of your household expenditure and any other debts you may have. We will take into account any circumstances that have led to these difficulties.
Things you can do to help yourself. Be honest with yourself and acknowledge the problem, seek independent free advice, for example, moneyadviceservice.org.uk/moneynavigatortool/, check for insurance policies that might help with payments, check whether you are entitled to state benefits. Keep anyone associated with the mortgage up to date with what is happening. Learn about your options.
We won’t charge you for being in arrears. If our customers are already in arrears or facing payment challenges, we do not wish to make things worse for them. In line with our tariff of charges, we may charge an administrative fee e.g. for unpaid direct debits that you have not warned us about.
We will try to reach a solution with you that is bot affordable and sustainable. We take all circumstances into account and reach tailored solutions on a case by case basis with you. We will explain the implications of each approach. We strongly recommend that you seek independent advice such as a debt counsellor, solicitor or financial advisor, before agreeing to any solution. We will give you time to consider any solution that we discuss.
If you ask for a solution that we do not agree to we will explain our reasons for this.
If we have agreed a solution but your circumstances change again you need to contact us so that we can work through things and try to reach another solution.
If, in the unlikely event that we can’t agree a solution we may start court proceedings to repossess your home. This does not mean that we will repossess your home as we will keep trying to solve the problem with you.
WE WANT TO HELP YOU AS MUCH AS WE CAN TO KEEP YOUR HOME. REPOSSESSION IS A LAST RESORT.
You may want to talk to a professional adviser, such as a debt counsellor or a lawyer, before you change your mortgage arrangements. We would strongly advise that you seek independent, free, debt advice.
If we can make one of these arrangements with you, we will explain how it would work and give you time to consider it. If we cannot offer you any of these options, we will tell you why. However we might agree to you remaining in the property in order for you to sell it yourself depending on your circumstances.
If you are in arrears, we may charge you for our reasonable administrative and legal costs. We will tell you the amount you will have to pay.
If you do not think we have treated you fairly, you should write to the Complaints Officer at the address shown below:
Beverley Building Society
57 Market Place
If your complaint is not dealt with to your satisfaction, you may then take it to the Financial Ombudsman. The Financial Ombudsman Service provides a free and independent service for consumers, and can be contacted at:
The Financial Ombudsman Service
South Quay Plaza
183 Marsh Wall
Phone: 0845 080 1800
Some companies may offer you new loans or even invite you to sell your property to them and then lease it back as a way of resolving your short term financial difficulty. Please be careful, as such actions may not be in your long term best interests. We would advise you to seek independent advice before entering into any arrangement of this type.
You may be thinking about handing your keys over to us. If you do this, you will still owe us any outstanding debt, and we would advise you to discuss this option with us before taking such action.
If you’re worried about paying, get in touch as soon as possible, so that we can help you.