Consolidating mortgage arrears
At Ocean Finance all our Mortgage Advisers are trained and qualified to give advice on finding a mortgage that suits your individual needs.
All mortgage applications will receive no obligation help and advice on the mortgage options available, so if you want a mortgage even with past mortgage arrears, apply online now.
We work with a large network of lenders who can offer you excellent private mortgage rates.
If you need to get your mortgage quickly, or cannot qualify for a mortgage from a bank, we encourage you to get in touch with our mortgage brokers who can help you select the ideal private mortgage for your situation.
For instance, if your house is valued at 0,000 and you still owe 0,000 on your mortgage, your equity would be 0,000.
A loan specialist will be able to tell you exactly how much you could be eligible to borrow.
What is refinancing and how can mortgage in arrears occur?
Refinancing is the process of getting a new loan to replace your original loan.
Whether your mortgage is in arrears due to missed repayments or unexpected rise in interest rates, or you’re unable to work due to an injury, refinancing may be an option to consider.
A broker fee of between £495 to £3995 is payable on completion and can be added to your mortgage. The actual rate available will depend upon your circumstances.
Many people just like you choose this option due to their low interest rate.
You need to know when your repayments are due each month and how much is your repayment amount.
When unexpected events such as a job loss or illness happen and you are unable to afford the repayments, it is important to act quickly so you don’t end up with a bad credit rating, which will affect your chance of getting a loan in the future.