Self Cert Mortgages, Bad Credit

When you become a proud home owner you have a lot on your mind, how you are going to change the house and decorate o your style and taste. You do not think about bad credit and mortgage arrears. You may be considering building a conservatory out the back if you can get a secured loan, now you are a home owner. You may be self employed and had to trek through the self cert mortgage route. You want to explore the area you live in, get to know your neighbours and tackle the weeds in the garden.

The last thing some people think about is their financing. Very few people are aware of their precarious hold on home ownership. If you forget to pay your self cert mortgage or fall behind in your repayments for your secured loan and accumulate mortgage arrears you could be given a bad credit rating.

It is very important that you keep your eyes on the prize, that is, your house. Do not be swayed by the shopping principle. This is where you start buying things ‘for the house’ without any due regard for your financial status. Once you start shopping you can not stop and it snowballs into a large credit card bill. Do not , under any circumstances, pay this off first.

Secured loans and self cert mortgages are what are called ‘priority debts’. They have to be paid before any other debts come into consideration. If you do not keep up your repayments or fall into mortgage arrears and find yourself in bad credit, you could lose your home.

This is because when you took out your mortgage, your house can be repossessed by the lender if you do not keep up the repayments. The secured loan is secured on your largest asset which is usually your house. Your house will become forfeit if you fall into debt and can not repay your debt. Keep up your payments, this is the most important thing you can do with regards to ensuring you have a home for now and in the future.

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