Composition Orders (CO) are a type of agreement used in the United Kingdom housing market whereby a borrower and their lender (usually a bank or other financial institution) agree to a payment plan to settle an outstanding debt. The purpose of a CO is to provide an affordable repayment plan for borrowers who are facing financial hardship and struggling to make their mortgage payments. The scope of a CO typically includes the setting of a repayment plan, the setting of a time frame for the repayment of the debt, and the agreement of a percentage of the debt to be paid off. A CO also typically contains provisions for the lender to suspend or reduce interest payments, and may also include the lender’s agreement to accept a lump sum payment in lieu of a period of regular payments. By entering into a CO, the borrower agrees to make regular payments, and the lender agrees to accept a reduced amount of repayment, or to suspend or reduce interest charges.