Mortgage shortfall debt

This fact sheet tells you about your options when you have a mortgage shortfall debt. A mortgage shortfall can happen if your home has been repossessed, or you have handed back the keys and the amount your home has been sold for is less than any outstanding mortgage or secured loans.

Use this fact sheet to:

• find out how long you can be pursued for a mortgage shortfall debt;
• check your rights if you owe a mortgage shortfall debt jointly with someone else;
• find out if it is worthwhile disputing the amount your lender says you owe;
• see if you can complain about your mortgage lender; and
• get some practical advice about your options to deal with your mortgage shortfall debt.

This fact sheet includes:

• sample letters you can fill in online to help you deal with your mortgage shortfall debt; and
• some useful contacts and links for you to get further help.