You may have mortgage arrears and be concerned about your ability to get a new mortgage.

You may still be able to obtain a mortgage even if you have had mortgage arrears and at competitive rates of interest.

If you are concerned about your mortgage arrears, you may call this number 01992 620276 to speak to an Independent Mortgage Adviser in Hertfordshire.

We recommend you seek advice from an Independent Mortgage Adviser who will be able to assess your situation and help you to find the best mortgage lender to apply to.

Many mortgage lenders will not accept customers with mortgage arrears and it is not worthwhile to approach these.  It is a waste of your time to do so but more importantly if your application is rejected this fact will be recorded on your credit file and this negative data could cause further mortgage application difficulties in the future

 Mortgage arrears may be accompanied, or even caused by other credit problems.  If left unchecked these problems can quicky escalate with arrears and other charges being added to the existing debts creating an arrears spiral.  As the payments rise affordability can be squeezed until income is not sufficient to meet the payments.

Mortgage advisers recommend early action to avoid mortgage arrears and loan arrears spiraling.

If you have not already done so cease all non-essential spending.  Your home is at risk if you do not meet your mortgage payments so your mortgage must be your priority.  Consider any assets that you can sell such as trading down your car.  Try to avoid letting the arrears grow.  Seek independent mortgage advice immediatly.

 An independent mortgage adviser will be able to arrange a new mortgage that will consolidate debts and arrears.  It is imprtant to consider the pros but also the cons.  The main advantage is that the new mortgage may be cheaper than the total of all of the other payments for mortgage, mortgage arrears, loans, loan arrears and credit card payments.  The disadvantage to consider is that all of the new mortgage debt will be secured on your home.  If you do not keep up payments on the new loan (or indeed on any mortgage) your home will be at risk.

The most important priority is to arrange for a new mortgage payment plan that is affordable so that mortgage arrears are eliminated.  The next priority is to find ways to reduce the overall mortgage debt.  Mortgage advisers usually recommend repayment or capital and interest mortgage accounts or for some surplus funds to be built up in a deposit or savings account.

A good mortgage adviser will not charge high fees and will help you to clear your mortgage arrears and design a plan to repay your mortgage.

To discuss your mortgage arrears confidentially call 01992 620276 to speak to an Independent Mortgage Adviser in Hertfordshire.