If you have missed payments on a mortgage in the past, you will need to apply for a mortgage that specifically allows for your circumstances. As with any other credit, if you have missed payments this will show up on your credit reference and will probably effect your ability to get new credit in the future; such as a remortgage or new mortgage.

Mortgage payments are probably one of your biggest monthly outgoings. For this reason it can be very easy to fall into arrears when circumstances change. For example if you have borrowed the maximum you can afford, you could easily be caught out by sudden rises in mortgage interest rates; this happened in the early 1990s when mortgage interest rates went as high as 15%.

If you have had mortgage arrears in the past or currently have mortgage arrears, we could help. Gloucester Mortgage Centre specialise in helping clients with mortgages arrears to find a mortgage which could offer a fresh start. We may be able to help you find a mortgage to:

  • Raise cash
  • Consolidate debt
  • Reduce your monthly outgoings

For further information, simply contact Gloucester Mortgage Centre
by telephone , by online enquiry or by email

The interest rate on this type of product may well be higher than mainstream mortgage rates due to the risk that they represent.