Returning to work - can't afford mortgage

EleanorRig

I have been receiving interest payments from the DS for my mortgage for several years and have just started a job.
I rang my mortgage lender (NatWest) asking if I would be able to continue with an interest only mortgage as I have a very low wage and am unable to pay the full amount.
They have informed me that as I have arrears on the repayments I will be expected to pay not only the full amount but also the arrears too.
When I explained that this would be impossible they suggested I release the equity.
I have spoken to someone who has told me that is not true and there are other options available.
Any advice would be very welcome
Thanks

Thrugelmir

EleanorRig wrote: »

I have spoken to someone who has told me that is not true and there are other options available.

What options?

beecher2

I can't see how you have any option other than pay back the arrears. If the mortgage is unaffordable, then a long term solution is needed. Getting a lodger in, or selling up may be your only options.