The official figures are showing a fall in home repossessions - and a rosier picture of the housing market – but is this the full story?
Arrears on loans from some of the more aggressive specialist lenders such as Gmac are already running into double digits. And with unemployment set to rise further over the next few months, more people could struggle to meet their mortgage payments.
We’d like to build up a true picture of who is running into difficulty with their loans and would be interested to hear your experiences.
Maybe you’ve lost your job, or the bonus you were expecting hasn’t materialised. If this is the case are you having trouble paying your mortgage?
Was it too easy to gain credit at the peak of the market from aggressive lenders such as Northern Rock and Halifax? Or were you encouraged to convert your existing home into a buy-to-let investment when you moved house? Maybe your mortgage lender has failed to pass on interest rate cuts to you?
Lenders are telling us they are more willing to help homeowners out of difficulty but is this really the case? If you have approached your lender for help what has been their response?
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