Mortgage arrears is when a borrower falls behind and cannot meet their mortgage repayment obligations. This could be for a number of reasons, and in turn can affect your chances of obtaining a new loan.
Borrowers of mortgage arrears loans are typically looking at refinancing options to help restructure their repayments and get on top of their financial commitments. You may or may not be eligible for a refinance if you are in arrears, however this is where specialist lending can assist.
Generally, borrowers find themselves in this inconvenient financial situation due to unexpected circumstances such as loss of employment, health issues, divorce or separation, weak house prices, large increases in interest rates, and other unplanned situations.
As Comparez is a dedicated comparison site for specialty lenders, we will compare the various loan options for your arrears situation and assist you with the application.
The refinance process becomes difficult when you have a mortgage in arrears. You will need a private lender that can provide you with financing options to assist with you with your circumstances.
Our experts analyse your current financial situation to make the process less onerous on you in refinancing your mortgage arrears loan. Also, we can help you with debt consolidation alternatives for selling your home to dodge repossession.
We can assist you to design a suitable budget that you can afford to pay towards your mortgage arrears loan. Book an appointment with our specialist advisors to help you solve your mortgage problems.