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Pressure mounts as nearly 500,000 miss mortgage payments

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  • Pressure mounts as nearly 500,000 miss mortgage payments

    According to MoneyExpert.com, the personal finance website, 463,000 British homeowners missed a mortgage payment in the latter half of 2007. This represents approximately 4% of the 11.8 million outstanding mortgages in Britain. The research showed that people aged 25 to 34 are the most likely to have missed mortgage payments. In spite of the quarter [...]

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    If you miss a payment make it up as soon as possible. Lenders generally allow you to have had 1 months arrears in the last 12 months when assessing you for a new mortgage. If you miss your payment date but make it up within the calendar month that only counts as a late payment not a missed one and lenders don't treat it as missed. Always obtain a copy of your credit report (your mortgage often shows on it) before applying for a mortgage.
    Gift Wrapped Mortgages

    Independent Mortgage Broker