Negotiate with the lender
The first step is to contact the lender and try to negotiate some time so that you can see what their position is.
You can ask the lender to exercise forbearance as per the FCA guidelines.
1FCA, Guidance for Firms Supporting their Existing Mortgage Borrowers Impacted by the Rising Cost of Living FG23/2, 10 March 2023, available at Most lenders are happy that you have become involved and are trying to sort the situation out.
The earlier you contact them the better. It is better to negotiate a settlement rather than rely on the courts.
Using guidance
Advisers should familiarise themselves with the FCA guidance about interest-only customers, mortgage prisoners and forbearance, the MCOB rules and other associated guidance (CONC). You can use this guidance to negotiate with the lender and ensure they comply with the rules.