Fees and Charges & Repossessions

If you’re worried about keeping up to date with your mortgage repayments, or think that you may run in to difficulties in the future, we’re here to help.

Fees and Charges & Repossessions

If you’re worried about keeping up to date with your mortgage repayments, or think that you may run in to difficulties in the future, we’re here to help.

Payment Difficulties

Fees and charges

At Derbyshire Building Society, a trading division of Nationwide Building Society, we want you to be aware of the circumstances in which we may charge you a fee for the administration of your mortgage.

Charges may apply depending upon the payment activity and conduct of your mortgage account. Any charges applied will be added to your mortgage account and interest will be charged on them.

Click here to download details of Derbyshire Building Society's Fees and Charges.

Repossessions

Taking possession of someone’s home is always the very last resort. It’s never in our best interest to go down this route and we’ll do all we can to avoid this situation. However, if you fail to keep up to date with your mortgage payments, we may be left with no other choice.

If you’re worried about paying off your mortgage or think that you may run in to difficulties in the future, we’re here to help. Sharing the problem with us is the fastest way to make sure it doesn’t get any worse.

Call us on 08456 004 005 and we’ll try to solve it together.

Lines are open Monday to Friday from 9am to 5pm.

If repossession proceedings take place, we strongly recommend that you attend the court and that you seek free, independent advice. Starting court proceedings does not necessarily mean that we will repossess your home. We’ll keep trying to resolve the problem by talking to you. We’ll also talk to you about getting in touch with your local council to see if they can find you somewhere else to live.

If we’re left with no other option but to repossess your home, we will:

• Sell it for the best price we can realistically get and as quickly as reasonably possible
• Give you reasonable time to take your belongings from your home
• Use the money raised from selling your home to pay your mortgage and any other loans that are secured against your property
• Pay you any money that is left over – we’ll let you know the amount as soon as possible

If selling your home does not raise enough money to pay off your mortgage, here's a few things that you'll need to know:  

• If there’s not enough money from the sale of your home to pay the whole mortgage, you’ll still owe us the remaining amount
• If your mortgage is in the name of more than one person, each of you is responsible for all the money borrowed
• We’ll contact you within six years of selling your property to arrange for you to pay back what you still owe
• If you still owe us money after the sale of your home, it could affect whether you are able to get credit in future
• If we claim on a mortgage insurance guarantee, your insurance company may contact you to arrange for you to pay back the sum they’ve paid to us