Struggling homeowners 'must talk to lenders'

Posted by Emily Swanson

Britons who are finding it difficult to keep up with their mortgage repayment requirements must talk to their financier sooner rather than later.

That is according to Catherine Hearnden, director at online resource My Mortgage Direct, who has urged anyone struggling to make ends meet with their home loan to talk about it at the first sign of trouble.

Last week (September 19th), the Building Societies Association stated in a report that banks should work more closely alongside the government to help reduce the number of repossessions taking place across the UK.

And Ms Hearnden noted that this attitude means the majority of companies are quite understanding when it comes to customers who cannot meet their contracted repayments.

"As long as people get onto their lenders the minute they have got a problem, then I think it is dealt with quite well ... people are helped if they help themselves," she added. ADNFCR-2353-ID-800741158-ADNFCR

27/09/2011 15:59

News category: Property

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