Self Cert Mortgage, Mortgage Arrears

Finding the money to pay off mortgage arrears can be very hard. You started out the mortgage with good intentions but you are self employed and had not reckoned with a down turn in your business. You took out a self cert mortgage and are not sure what your next move should be. Check out the small print and maybe find someone to read and understand the agreement with you. They might find a paragraph pertaining to a payment holiday or other ventures to keep you out of bad credit. Do you already have a secured loan? Maybe this would help tide you over. Investigate every possibility until you find one that matches your circumstances.

Self cert mortgages and secured loans are given under the proviso that you will not renege on the agreement. The penalty for doing so, if not resolved quickly, is the repossession of your home. So as you can see you must keep out of mortgage arrears and do not let things fall into bad credit. Do your best to save for just such a contingency. If the glitch in your financial capital is temporary explain this to your lender, they may be more sympathetic to your plight then you realise.

They may be able to help you find a way to continue with your self cert mortgage without falling into mortgage arrears and bad credit. If they offer you an elongation to your agreement, it may be worth thinking about. This is when they agree to lower the amount you are paying back each month in return for making your period of repayment longer. For instance if your mortgage is for twenty five years at a rate too high currently for you to keep up repayments they may extend your mortgage to thirty years with a subsequent drop in your monthly payment.

There are several variations on this theme that you should try to explore with your lender. They probably do not want you to lose your house either, they want the best return for their investment and may be willing to find a way around your financial impasse.

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

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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