ALTHOUGH we may be looking at ANOTHER interest rate cut this week, record numbers of households are STILL struggling to pay their mortgage.

Growing unemployment, coupled with a lack of affordable loans for those looking to remortgage, means not meeting monthly repayments is looking like a grim reality for a number of people.

But there is some hope for those feeling the pinch. There are lots of things you can do to save your home.

Repossession should be an absolute LAST RESORT for everyone concerned. Keep that thought foremost in your mind.

Buffer

Last November the Government came to an agreement with the major lenders to wait at least THREE months before they start repossession proceedings if borrowers go into arrears.

This buffer zone gives both lender and borrower a chance to see if there is a solution which would allow families to continue to own and live in the property.

Then in December, RBS, Northern Rock and Natwest announced they would extend this period to six months after borrowers had first fallen into arrears. This means there IS time to save your home if you are struggling.

But it's up to YOU to take the first step in asking for help. So first off, start TALKING now. If you're worried about your finances, don't hide bills from your partner. Explain why you're concerned, then together arrange a consultation with a free, independent debt advisor.

Also get in touch with your lender and explain your situation to them. The earlier you tell them, the more options are available to solve the problem.

Below are three solutions your lender may consider offering you. These could all make a short-term impact on your monthly outgoings, helping you through a difficult patch of unemployment or financial stress.

But the other important thing to remember is that even if you can't make your full mortgage repayments, you should talk to your lender and still pay what you can afford.

Willing

Lenders want to separate the genuine "can't pays" from the "won't pays". By making whatever payment you can it will show willing, and you're more likely to be treated sympathetically.

If push does indeed come to shove and you end up facing possession proceedings, don't panic.

But always attend the court hearings yourself. It DOES NOT mean you will automatically lose your home. The court process acts as a final check to make sure repossession really is the last resort.

There is help out there to make sure you don't lose your home. Just be certain you ask for it in time.

3 ways to lender hand

1: EXTEND the term of the mortgage to reduce your monthly payment.

2: DEFER interest payments for an agreed period, so you only pay back the capital you owe.

3: TREAT the arrears you owe as part of the capital you've borrowed from them.

Ask Louise

Q WE live in a very busy part of town and parking on our street is a nightmare. Recently, one of our neighbours turned their front garden into a parking space. How can we do that?

MARK, via email

A FIRST of all, you will need to apply to your local council for planning permission. They will also tell you how much they will charge for the work needed, as you will have to have what's called a dropped kerb. Then you'll need to sort out your front garden - any work you need doing to make it into a driveway will be at your own cost. But it's worth it as off street parking can add up to 7 per cent on the value of your property.

Q AM currently trying to rent my house out, but I'm struggling. It's been on the market for two months now and we've had four viewings. Should I sack my letting agent?

JON, via email

A NOT necessarily. It's entirely possible that you're marketing it at too high a price. Everything rents at the right price, so if it's not shifting, you need to have an honest chat with your agent and think about reducing the marketing price, particularly if there are a lot of similar properties available in your area to rent.

Got a question for Louisa? Email it to louisa.fletcher@notw.co.uk

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