Self Cert Mortgage, Consequences of Credit

Life can be sweet, you may have everything you want and more, a lovely house, great possessions, a new car and a super holiday every year. But if you have bought this life style on credit then you may find you were living on borrowed time. If you do not keep up with your repayments to your self cert mortgage or secured loan and fall into mortgage arrears the spectre of bad credit may call and demand your house to pay for your accumulating debts.

Lenders do not want to take your house off you and may be willing to negotiate especially if the mortgage arrears or whatever else is causing you to be pulled towards bad credit will be temporary. Do not sign anything until you feel comfortable with the explanation they offer you or before you can receive independent financial advice. They may agree to add your arrears to the total secured loan or self cert mortgage debt. This is usually considered if your home is at a value higher then the outstanding amount on your mortgage.

They could agree to increase the term of your agreement beyond its original term, for instance form twenty five years to thirty years. This will reduce the amount that you have to pay back each month. Then you can make an offer to pay back what you owe for the self cert mortgage, the mortgage arrears, missed secured loan repayments or whatever it is.

If you have not completely fallen in bad credit then you can swap lenders and potentially find a better deal elsewhere. Offers may be got at better rates of interest or easier terms for you to handle. If however you can not raise any capital from anywhere, that you have exhausted all your lines of enquiry, have topped you credit limit and have checked all policies for help but to no avail then you may have to face the consequences of your extravagant behaviour. Your only option left after all this, may be to hand back the keys to your mortgage lender or to sell the property yourself.

We can not promise you a Mortgage BUT we will listen no matter what your circumstances are.

SOLVING YOUR MORTGAGE PROBLEM SIMPLY

ABBEY FINANCE

0845-4567-847

Just click here to fill out our simple on line Mortgage Enquiry Form, it will only take a few moments.

enquiries@abbeyfinance.biz

Actual rate available depends on circumstances ask for personalised illustration. The overall cost for comparison is 7.9% APR. Our representative fee charged is 1.25% of amount borrowed. APR variable and based on a usual case.

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE