Arrears and need to remortgage

Arrears on a mortgage or credit agreement should be got back on track asap. Borrowers should try to arrange a repayment plan with their lender so that interest does not mount up, and the arrears don't move to default and even County County Judgement.

There are less lenders willing to consider people with adverse credit since the problems from the USA stated resounding in the UK Mortgage Market. Lenders are taking few gambles on borrowers and many have reverted to a purely prime portfolio. If your existing mortgage lender is unable or unwilling to help it may be time to look to another lender.

There is no guarentee that another lender will be able to help, but it may be worth the time to take a look through the market to find if there are any deals that you will qualify for. A mortgage broker may be able to help you uncover the right deal by using their mortgage sourcing software to narrow the options and then call lenders on your behalf to try and get the ball moving forward on a positive note.