Entries (RSS)Mortgage lenders to treat arrears cases fairly
The Financial Services Authority has threatened to fine mortgage lenders if they do not give fair treatment to customers who get into arrears on their home loans. The FSA has written to the chief executives of all mortgage lenders giving them until 31st January to ensure that their customers facing arrears are being treated fairly.
As part of the pre budget report, the chancellor, Alistair Darling called for a review of the mortgage market. In response to this, lenders agreed to wait three months before starting repossession proceedings against homeowners who have fallen into arrears
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While we’re in the Mortgage lenders to treat arrears cases fairly | Property Investment zone, The arrears can be added to the new loan balance and spread out over the term to allow the loan to be brought current.
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