If you are in arrears with your mortgage and are subject to repossession
it is very difficult to see an end to the problem due to the worry
of losing your home. We have helped many people save their home
and re-arrange their finances so that life becomes affordable
again. We thought it would help to answer some of the questions
that are asked regularly which are below:
Other Brokers have been unable to help; can you?
We can't help everyone but the most important thing is we won't
fill you with false hope. Our two experienced mortgage brokers
are used to placing unlimited arrears mortgages up to 85% loan
to value regardless of who your current lender is. The heavy arrears
market is quite complex and we do have access to some unusual
but fair lenders that most brokers may have never used or heard
of.
Do you charge any upfront fees?
The only possible upfront fee will be for the valuation although
as of May 2007 there are four lenders that will refinance someone
with mortgage arrears that offer a free valuation. On mortgages
at less than 70% loan to value we will usually pay this for you
and then collect it on completion of the loan. We look at each
case on its merits.
Do we have to visit your office or do you have to come
and meet us?
If you are within a reasonable distance it is best to meet in
person to make sure all of the forms and documents are correctly
completed to avoid delay. We do however conduct at least alf of
our business by post which does not cause a problem. We usually
complete all the paperwork over the telephone so that the forms
are correctly completed to try and minimise delay.
How quickly can you get a mortgage or loan to complete?
We have one mortgage lender that offers a 5 day completion package
so it is possible to enquire on a Monday and complete on a Friday.
We also underwrite in-house for one lender so we can usually get
a formal mortgage offer in less than two weeks and complete the
following week. With secured loans, it depends on the loan size
but again completion is typically three weeks.
I have an eviction warrant and have to leave my home
in a couple of days; can you help?
As long as there is some equity in the property and you have a
reason why the arrears occurred and why they will not happen in
the future we can help to arrange a Court hearing and it is highly
likely that the Judge will suspend the eviction for 28 days to
allow you time to clear the mortgage arrears.
Do you have a large choice of lenders?
We have access to the entire mortgage market but as you can imagine,
most High Street lenders will not lend if you have a large amount
of mortgage arrears.We keep a constant eye on the market as new
lenders enter and existing lenders respond with enhanced product
ranges. We are always aware of the most competitive mortgages
for all levels of mortgage arrears and adverse credit.
How do I know I have got the most competitive deal?
By providing a whole of market service and also as we operate
on an advice and recommendation service you are assured of a competitive
mortgage. Sometimes the most competitive deal will not be the
most suitable. If you are being evicted in say three weeks and
need a mortgage to complete within this timescale then the most
competitive mortgage
If you have not found an answer to a question and would like
an email reply to a question you have please fill out the short
form below:
The overall cost for comparison is 8.8%
APR.
The actual rate available will depend upon your circumstances.
Ask for a personalised illustration.
A fee of £500 is usually charged which is payable on completion.
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