Mortgage Debt

When dreams turn to nightmares you need to turn to someone who can help. We've got solutions for all situations.

 

"YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE"
It's a scenerio many people are facing.

 

TOP TIP : Pay Something - ANYTHING!

If you can't pay your whole mortgage amount that is due then pay what you can. If you can only pay £400 when £600 is due then pay that - DO NOT make the common mistake of thinking you could use the £400 to settle other debts like a credit card bill....your mortgage is a priority debt.

 

Don't assume that you'll be able to catch up next month, so paying what you can will go a long way to keeping your lender happy (and if it comes to it - the courts happy too).

 

We'll stress again - something is better than nothing.

 

Can you stop a repossession?

In many cases DCM Money Solutions can help find a solution to repossession.

 

The Mortgage Debt burden

Is your mortgage is starting to burden you down? Loss of income or increased repayments? What can you do? It's easy to panic, but stop.

Take a deep breath and let's work through it.

 

First of all, what's the scale of the problem - are you the only one in this boat? Well you're not in a canoe, you're in the company of many people. In fact a cruise liner might not be big enough.

 

Currently it is estimated that 80,000 people per month are coming off fixed rate mortgages. Many of these mortgages were taken out when rates were low but the jump to current rates is upwards and sometimes by quite a lot.

 

Many households are switching lenders, opting for interest only or even moving house to a cheaper home to keep costs down. Any of that sound familiar?

 

All of a sudden the cruise liner is taking the shape of the Titanic. But let's not abandon ship and jump into icy cold water, let's aim for shore. Positive thinking, proactive approaches - we can help steer you, and your house, back on course.

 

Can we keep you in your house? Yes, we probably can

 

Details to have to hand when you call DCM

Your mortgage agreement with your payment details, interest rates and any other relevant documentation

 

A valuation of your home from two estate agents is ideal and give us more to work on, but a rough valuation based on similar house prices will do initially.

 

Details of all your financial commitments from car loans to overdrafts

 

Details of all income from benefits to pensions

 

We might not need this information at first, but you'll need to get it together at some stage so get it together anyway.