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Mortgages

The pages in this section provide basic information about mortgage options.

They also explain what you can do if you are worried about paying your mortgage or if you are already in arrears.

If your mortgage company is threatening to evict you or has started court proceedings, see our pages on Mortgage repossession.

Please note : Shelter Cymru cannot give financial advice. A financial adviser or mortgage broker can help you understand all of the different mortgage options and products available. Visit unbiased to find an adviser near you. Always check the Financial Services Register to be sure that any adviser is authorised by the Financial Conduct Authority.

Repayment options

Although the features and benefits of mortgages vary, all mortgages involve repaying the capital sum (the amount you borrowed) plus the interest on the loan.

Joint mortgages

If you’re buying a property with someone else, you’ll need a joint mortgage. How much you can borrow will depend on both your incomes.

Mortgage protection

You may want to take out ‘mortgage protection’ insurance which could help you if, for example, you have an accident which means you are unable to work.

Changing mortgages

If you already have a mortgage, you may want to switch to a different mortgage (or a different lender) to get a better deal.

Endowment shortfalls

If your endowment policy does not cover the outstanding capital at the end of your mortgage you should get urgent advice.

Catching up with your endowment shortfall

Find out what your options are to help you catch up on any endowment shortfall.

Endowment complaints

You may be entitled to compensation if you got bad advice from the company that sold you your endowment policy and you have lost out financially as a result.

Dealing with mortgage arrears

Many homeowners have problems paying their mortgages, often when they lose a job, split up with a partner or have unexpected expenses. It is important that you deal with any arrears as soon as possible.

Arrears on a repayment mortgage

If you have a repayment mortgage, you may be able to reduce your monthly payments. This could help to stop your arrears from rising if your problems are short-term.

Help to Stay support scheme

If you are having or facing difficulty making mortgage payments, the Help to Stay scheme might be able to provide financial assistance to help you keep your home.

Increasing income

If you have problems paying your mortgage, there might be ways to increase your income to make your mortgage more affordable.

Selling voluntarily

You may decide that you have no option but to sell your home to pay off any arrears. If you are thinking of selling your home, it is still important to continue to pay as much as you can towards your mortgage.

Mortgage rescue schemes

Some councils and housing associations operate mortgage rescue schemes (MRS) to help homeowners avoid mortgage repossession if it is likely that otherwise the homeowner will be homeless.

Private sale and rent back schemes

Homeowners should think carefully before signing up to a ‘sale and rent back’ scheme.

Support for mortgage interest payments

If you are claiming certain benefits, you may be able to get help with your mortgage interest payments.

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This page was last updated: July 30, 2026

The information contained on this site is updated and maintained by Shelter Cymru and only gives general guidance on the law in Wales. It should not be regarded or relied upon as a complete or authoritative statement of the law.