Written by: Danny Belton - Head of Lending


MoneyAge reports that 56% of UK mortgage borrowers say the ongoing cost of living crisis has affected their mental health, which is why it's so important to check in with yourself and your wellbeing now more than ever.1

We know this can be challenging, especially when you're dealing with money worries which can have a wider impact on your health, causing sleep problems, issues with your relationships and social life, as well as increasing the likelihood of experiencing depression and panic attacks.2

Whilst we might not be able to take your money troubles away, we can certainly help reshape your mindset and try to improve your relationship with money so that it doesn’t become all-encompassing. 

Track your mood and money patterns

Money and emotions are very closely linked. For instance, if you’ve had a bad experience with managing money in the past, then this might affect the way you feel about money now. 

Keep a close eye on your spending habits and how they correlate to your mood at the time. Ask yourself these questions:

    • How do I feel when I’m in the mood for spending lots of money? 
    • How do my feelings differ when I’m spending money, compared to when I’m saving money?
    • How do I feel when I think about money? And why might I feel this way when I think about money? 

arm in a denim jacket holding a white and red megaphone

Speak up 

If you’re struggling to pay the bills then it’s time to speak to someone about it early on, before it becomes a bigger problem. 

There is no shame in admitting that you can’t afford to pay the bills anymore, and you’re certainly not alone. A recent survey by the Financial Conduct Authority found that 7.8 million people were finding it a burden to keep up with paying their bills, as wage growth fails to keep up with rising inflation.3 

A friend can lend a sympathetic ear, but if you’re struggling with your mortgage and bills, then you need to speak to the professionals. 

Expert mortgage advice

Our mortgage advisers are fully qualified to carry out affordability tests to make sure you can afford to make your repayments over the course of the mortgage term. Once we’ve found a mortgage that’s right for your circumstances, we can discuss your needs and advise on which protection policy we think is right for you too, whether that’s income protection, critical illness cover, buildings and contents insurance etc. 

If you’ve already taken out your mortgage and are worried about keeping up with the repayments, you can get in touch with your lender. Some of the things they may suggest could be extending your mortgage term or taking a payment holiday, if these are suitable for your circumstances. 

Further help

Whether you’ve been made redundant, have a spending habit, or perhaps you’re ill and can’t work - whatever the reason for your money worries - it’s important to reach out and get help from professionals, like Citizens Advice Bureau Debt Management and Debt Support Trust. 

References and sources:

  1. MoneyAge, 2023
  2. Mind, 2022
  3. Guardian, 2022

Important information

Your home may be repossessed if you do not keep up repayments on your mortgage.

There may be a fee for mortgage advice. The actual amount you pay will depend on your circumstances. The fee is up to 1% but a typical fee is 0.3% of the amount borrowed.