Arrears

It is important that you keep up-to-date with the monthly repayments on your mortgage. When mortgage payments have not been paid on time and/or are not made at the correct amount, borrowers are said to be in arrears.

It is important that you keep up-to-date with the monthly repayments on your mortgage. When mortgage payments have not been paid on time and/or are not made at the correct amount, borrowers are said to be in arrears.

Borrowers with a history of mortgage arrears will find it harder to effect a further mortgage with their current lender or a new lender in the future. Although there are a number of lenders who will consider lending to individuals with poor credit history, it will cost more than an ordinary mortgage because of the risk-premium being charged by the lender.

Get professional help from a qualified independent mortgage advisor and see how much you could save on your mortgage payments. There's no obligation, just plain good advice.

See also: Financial Services, Mortgages