If you have arrears you can still get a mortgage.

If you have arrears you can still get a mortgage.

Can I get a mortgage with arrears?

Yes, you can get a mortgage or remortgage even if you have arrears on existing debts.

Your mortgage is secured on your home. If you have fallen into arrears with your payments you need to act quickly to avoid your home being repossessed by the bank or building society. However if you are struggling to make your monthly payments and can?t seem to catch up on any arrears there are still things you can do to take control of the situation.

You may be able to release some equity in your home by re mortgaging. By doing this you could pay off your debts and even reduce your monthly payments.

Don?t ignore the problem. There are many ways to resolve the situation and repair your credit rating at the same time.

By talking to people who understand your situation you are beginning to take responsibility for your own debt. If you take action you will reduce your fear of the unknown. Talk to someone who will be understanding and supportive, someone who will explain the difference between good credit and bad credit and give you the opportunity for you to help yourself out of your debt trap.

Remember you debt problem can be solved if you face it and talk to someone who knows how to help! So talk to a specialist mortgage advisor now!

It is important to realise, however, that the more payments you have missed the higher risk you will be to a new lender, and as a result you may not qualify for the most competitive deals. So don?t ignore the problem for too long. Remember it is always better to try and fix the problem sooner rather than later.

We will be able to help if you have existing arrears.

THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE The overall cost for comparison is 7.0% APR. The actual rate payable will depend on your circumstances. Please ask us for a personalised illustration. A fee is chargeable only on completion, typically 2% of the loan amount depending on your circumstances (subject to a minimum of (£1,995 and maximum of (£2.995). For a mortgage of (£100,000 the fee would be (£2,000. Early repayment charges may apply and will vary depending on the mortgage. Adding existing debt to your mortgage will increase both the repayment term and the overall cost.
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