When struggling to meet mortgage or other financial obligations it can make for an unhappy and stressful life.
It’s important to maintain perspective of course and then decide what you can do to improve matters. Sometimes there will be plenty - usually your options are limited.
If you are struggling to pay your mortgage, here are a few ideas to consider;
Most mortgage providers recommend constant communication with them if you are having difficulty with mortgage repayments. Some lenders will consider granting you a repayment holiday to cover short-term difficulties but this will largely depend on the lender, your personal circumstances and the loan to value ratio on your home.
Perhaps most important of all, don’t fall into the trap of not reading mail and ignoring the problem. Talk to a trusted friend or family member and take professional advice. It’s never as bad as it seems and there are always actions you can take, even if sometimes those actions are sometimes undesirable or hard to implement.
If you are having problems meeting your mortgage requirements contact Mortgage Required for an initial, no-obligation, consultation.
The chancellor will deliver her second budget this autumn. Due to slow economic growth and high inflation, the government need to manage a £40 billion shortfall in public finances. There have already been reports about changes to taxes including income tax and capital gains tax.
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