26/10/2023
If you're one of millions now struggling to pay your mortgage, here are four practical steps that may help:
- Concerned customers can call their lender for support and these interactions will not affect your credit score.
- You can secure a new fixed-rate deal up to six months before your existing agreement ends – plus you are free to pursue new agreements right up until your remortgage date.
- Some customers can switch to an interest-only mortgage or extend their mortgage term – each option can be taken without a new affordability check, and neither will affect your credit score.
- Some mortgage holders may be able to remortgage without an affordability check – this could help ensure that you’re able to get the mortgage that’s right for you when your term ends, without worrying that your finances won’t measure up on paper. It may also mean that you needn’t worry about how your decisions now could influence your future borrowing options.
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