If you are having difficulty in making your mortgage repayments, you’re not alone. Lots of people in the UK are facing similar problems after taking out large mortgages and watching the recent rise in interest rates.
When you hit payment difficulties the first step must always be to contact your lender. Most lenders are very amenable to talking to you in an attempt to try to find ways of alleviating your situation, especially if it’s going to be short term. They might offer to increase the term of your mortgage, or perhaps you have a ‘payment holiday’ clause in your mortgage agreement that you could use. Remember though, that ‘payment holidays’ come at a price – the money you are saving in the short term will still have to be paid back and if you take too many, the debt will mount up.
Whatever you do, face up to what’s happening. A good many people who get into serious debt do so because they put their heads in the sand and refuse to accept that things need sorting out. It’s much better to tackle the problem at an early stage than to let debt accumulate.
If for any reason your mortgage lender cannot make alternative arrangements for you that will allow you to keep paying your loan, you will need to raise extra cash. One way of doing this is to take a second job to get more income but this course of action isn’t suitable for everyone and will depend on your personal circumstances. If your debt has become too large to pay off you might be faced with no other option than to sell your home.
In these cases, Property Rescue can help by making a fair offer for your home and completing the sale in an incredibly short time, sometimes just a matter of days. They will take care of all the paperwork for you but they will also keep you fully informed of what’s going on at all stages. Call them for a free, no obligation quote. Everything is done in confidence and if for any reason you decide not to proceed, you can rest assured that you won’t be contacted by sales people or hassled in any way.
Contact Property Rescue now to sell your home fast!