Resources For Mortgage Arrears
Dealing with mortgage arrears is a complicated matter from both a legal and financial point of view and anyone facing this situation will almost certainly have to obtain advice from a range of different sources.
Debt is becoming an increasingly large issue for individuals and, as such, there are now plenty of charitable organisations offering advice and support for dealing with financial problems:
www.cccs.co.uk The Consumer Credit Counselling Service offers advice and support for free on a range of debt issues including mortgage arrears and repossession.
www.nationaldebtline.co.uk This mainly phone-based service offers free and impartial advice on debt and related issues.
With mortgage arrears and repossession the legal aspects become quite complicated and it is vital that professional advice is sought, as soon as possible. Although legal advice is often very expensive, there are several charitable sources that provide free advice.
www.citizensadvice.org.uk The Citizens Advice Bureau offers information online as well as regular walk-in clinics to assist members of the public for free, on a range of housing, legal and financial issues.
www.clsdirect.org.uk Community Legal Service offers free advice and representation for those who cannot afford to pay for their own legal advice. This service is means tested but is free for those who qualify.
As the mortgage industry is so heavily regulated, there are numerous bodies that can be contacted if you feel that you have not been treated fairly by a mortgage lender or finance provider. These bodies not only police the industry but they also provide useful guidance and advice on specialist areas.
www.financial-ombudsman.org.uk The Financial Ombudsman deals with complaints against financial companies and offers practice guidelines for lenders in the mortgage industry.
www.fsa.gov.uk The Financial Services Authority (FSA) is a government body that oversees the regulation of the financial industry and produces standards that must be met by all companies involved in the industry.
www.cml.org.uk The Council of Mortgage Lenders (CML) deals exclusively with the mortgage industry offering advice and ensuring that standards of service are consistently met.