All cases must be handled sympathetically and positively by the lender and contact with customers must be proportionate and not excessive so that customers are not being harassed in an already stressful situation. It is clearly in the interests of the parties to address financial difficulties as speedily and as effectively as possible.
The Mortgage Arrears Resolution Process I referred to earlier is the framework all mortgage lenders must follow when dealing with customers facing difficulty meeting their mortgage repayments. One of its key elements is the Standard Financial Statement that lenders must use when gathering information about the financial position of a borrower.