mortgage arrears
Past or current mortgage arrears often result in a refusal for any additional borrowing by most lenders.
Falling behind with your mortgage payments can be a stressful thing. There are many reasons why people fall into arrears on their mortgage or secured borrowing. Often they are circumstances out of your control, such as illness, unemployment, increased outgoing due to the birth of a baby or rising interest rates.
Unfortunately, falling behind on your mortgage or secured loan payments can have an adverse effect on your credit history, making it difficult to get remortgage finance from the high street.
Although it’s true that many high street lenders will be unwilling to offer any help to people who have fallen into arrears on their mortgage or loans because of the risk associated, there are specialist lenders who are prepared to help people in circumstances such as yourself looking past the adverse credit history, and Finance Direct has put together an extensive panel of them!
Whatever the reason, there are many things that can be done to clear your mortgage or secured loan arrears and get your payments back on track.
If you have equity in your UK property, a remortgage could enable you to release cash to pay off your arrears and possibly reduce your overall outgoings.
At Finance Direct we believe that someone’s financial history is exactly that…history and we like to take each mortgage application on its’ merits.
Whether you’ve missed one mortgage or secured loan payment or several, a remortgage could help you:
- Pay off the arrears on your property
- Raise cash for other purposes such as debt consolidation
- Raise cash for home improvements
- Possibly reduce your monthly outgoings
If your property is in arrears, whatever you decide to do to correct the problem, it is crucial to take action quickly before your home is faced with repossession.
It is important to remember that there are many factors used to determine what kind of finance you qualify for. The easiest way to find out if Finance Direct can help you save your home, is to fill out our online application form, by clicking the APPLY NOW button to the left or to give us a call on 0800 458 1922.
All quotes from Finance Direct are free with absolutely no obligation to commit. You have potentially so much to gain and nothing to lose, so please contact us today.
The overall cost for
comparison is
8.2% APR
