Restructuring a mortgage due to unemployment

ferry

Hi
I hope someone can advise us.
I accepted voluntary redundancy with lump sum at the end of May this year and and have been paying my mortgage payments from this amount.
Its been tougher than I thought to find employment and sooner or later I will run out funds.
Can anyone advise 'restructuring' schemes actually exist to help clients in our situation.We're with Nationwide but have only been with them since Feb 2010
I have MPPI but this wont pay out as I took redundancy voluntarily.

Is there anything my mortgage broker can do on our behalf?

Thanks as usual for any advise

F

Peelerfart

Have you informed your lender of your change in circumstances ?

ferry

No-are there any potential benefits to doing that?

Many thanks
F

Peelerfart

If you may need a debt restructuring with your lender then they would be far more likely to look at such things more favourably if you have been above board with them.

Even though you haven't missed a payment,if you explain the situation now it can only be to your advantage if/when you have to tell them.