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 if I already have a mortgage or loan secured on my home?: It is possible (indeed common) to have more than one mortgage or loan on your property, as long as there is sufficient free equity in the property to secure the loan.
What if my loan application is not accepted?: Sometimes a lender may not wish to give you a loan. This may be for a number of reasons, however the lender is not obliged to tell you exactly why the loan been refused.
What does it mean if my payment protection insurance includes cash back?: Some lenders offer a cash back scheme on payment protection insurance – by refunding all or part of the insurance premium after a certain time has elapsed.
Will my monthly repayments ever change?: It depends on whether your loan is a fixed or variable interest rate loan, and over what period of time you are taking the loan.

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.