Deprecated: mysql_connect(): The mysql extension is deprecated and will be removed in the future: use mysqli or PDO instead in /home3/schteev/public_html/mortgagefox.co.uk/includes/dbconnect.php on line 5

Warning: session_start(): Cannot send session cookie - headers already sent by (output started at /home3/schteev/public_html/mortgagefox.co.uk/includes/dbconnect.php:5) in /home3/schteev/public_html/mortgagefox.co.uk/includes/functions.php on line 21

Warning: session_start(): Cannot send session cache limiter - headers already sent (output started at /home3/schteev/public_html/mortgagefox.co.uk/includes/dbconnect.php:5) in /home3/schteev/public_html/mortgagefox.co.uk/includes/functions.php on line 21
UK Free Mortgage Advice
Free Mortgage Quote - Click Here todays Best Mortgage Deals - Click here Free Mortgage Advice Smarter Mortgage Advice






Warning: mysql_fetch_array() expects parameter 1 to be resource, boolean given in /home3/schteev/public_html/mortgagefox.co.uk/includes/functions.php on line 566

Equity release - Warning against "Sell to Rent" companies

Homeowners facing repossession or needing to release cash in a hurry are being warned against firms promising a quick sale and the chance to rent back their home once sold writes Holly Thomas in the Daily Express.

Experts are concerned that some people facing repossession are not receiving the correct advice as sale and rent back schemes are not regulated.

Debt advisors are expecting a deluge of enquiries from panicking homeowners facing repossession as they brace themselves for a huge hike in mortgage repayments.

Over 10000 homeowners can expect their monthly repayments to increase by hundreds of pounds in the next few months as they come to end of their two and three year cheap deals. They will automatically be moved to a standard rate deal. A typical mortgage of 150.000 with repayments of 815 per month will increase to 1132 per month.

The Consumer Credit Counselling Service said that repossessions are on the increase and this is expected to continue over the coming years. As a result of this a Specialist Repossession Advice Centre has been opened in Leeds

14,000 properties were repossessed in the first half of this year according to the Council of Mortgage Lenders. This was up 30% on 2006.

Borrowers are advised to contact their mortgage lender as soon as problems arise, as it is easier to help in the early stages.

Some companies are making a lot of money out of homeowners who really need some proper debt advice. Many people may be able to re-mortgage or some other type of repayment could be arranged.

It is vital that homeowners with financial problems talk to their lender and consult an Independent Financial Advisor as soon as possible.

VIEW ALL NEWS

 

 

 

NOTE: Do not make any financial decisions based on the information on this page. Always take professional mortgage advice first

 

 

 

Mortgagefox offers a free mortgage advice

 

If you have any questions do not hesitate to contact our independent mortgage advisors at Mortgagefox.

 


There is no obligation with any of these services, and both are offered completely free. If you have specific mortgage question you want to ask then we will be glad to help.

 

 

Value of Property  
£
(eg 135000) 
Value of Mortgage
£
(eg 85000) 
Type of Mortgage