Mortgage Defaults or Arrears
Hot Topics
- What is a Bridging Loan?
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A bridging loan is designed to help you when you are selling your old home and buying a new one, because it is very difficult to get the timing right.
- What is a Tenant Loan?
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If you do not own your own property, you will not be able borrow money secured on your home. This means that any loan you take out will be a tenant loan – or an unsecured loan.
- If I decide I need a personal loan, which type of lender is best?
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Banks, building societies and specialist finance companies all offer personal loans. None are any better than the others in any outright sense – but because the market is so competitive, you'll need to shop around.
- Should I get Personal Loan Payment Protection Insurance?
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When you apply for a loan, you will be asked at the initial stages if you want personal loan insurance to be included in the agreement
- Can I have a fixed rate loan?
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It is entirely up to you if you want a fixed rate or a variable rate loan – however there are some limits to this.
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.
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