Bad credit remortgage

Wednesday, October 24, 2007

If you have fallen into arrears on your mortgage you need to address the situation before your property is repossessed.

You should always give your mortgage priority over any other debts.

You could apply for a bad credit remortgage and release some equity from your property to pay off your arrears. However this should only be done if you can genuinely afford the proposed new mortgage repayments. If you can not you will only be delaying the inevitable. In this situation you may want to consider selling the property.

At Solution Mortgages we have bad credit remortgage products available, regardless of your financial circumstances. If you have mortgage arrears, CCJ's or have been declared bankrupt we should still be able to help you.

It is important to point out, that the more payments you have missed the higher the risk you will be seen to a new lender. This could also mean that the rates available will be higher. The fewer payments that you have missed the better the rate will be.

If you want to speak to Solution Mortgages about how we may be able to help, then please call one of our experienced staff today on 0845 123 1260 0r apply on-line at http://www.solution-mortgages.co.uk/