Mortgage Defaults or Arrears

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What kind of loan should I get?: Which loan you choose depends entirely on what you need it for. There are many different kinds of loans, depending on where you buy them from.
What is an unsecured loan?: An unsecured loan is a loan where no asset is pledged as security for the loan. (The most frequently used security is the family home.)
What interest rate will I pay and is it negotiable?: Interest rates vary from lender to lender, and it all depends on how much you borrow, and over what period of time.
How do I contact the Credit Reference Agencies?: You can request your credit report online, by phone or online. It costs £2 for a copy of your statutory credit report. Here are the details for the three main credit reference agencies.
How do I make repayments and can I choose my monthly repayment date?: Your repayments will normally be taken from your bank by direct debit on a monthly basis. This means that you must have enough cleared funds in your account on the due date, or the payment will fail and you will have missed a payment.

If you are behind on your monthly mortgage payments then there will be markers on your credit report. This may hamper your efforts to get further credit, depending on how far behind you are, and how many payments you have missed.

If you need a loan and you have mortgage defaults or arrears, it is likely you will have to pay higher interest rates than you see advertised as 'typical rate'. Those typical APR rates are aimed at people that have a good credit history.

Freedom finance can offer loan deals to people with mortgage arrears and defaults, just fill in our easy, quick quotation form and a loans adviser will contact you with a selection of the best deals available to you.