It has recently been reported in the media that 5-year fixed rate mortgage deals have overtaken 2-year options as thousands of homeowners are becoming increasingly worried about the economy and therefore are eager to lock into lower interest rates.
This highlights the importance of ensuring that you are fully prepared for the economic uncertainty that lies ahead. More and more households are very keen to bring certainty to their mortgage payments. Interest rates have risen and will continue to rise therefore it is very important that you plan ahead to ensure that your mortgage payments remain affordable.
What should I do?
You need to fully understand your mortgage arrangement to determine and understand when your mortgage deal may be coming to an end. Having not enough income to cover any increase in your mortgage payments could have very serious consequences.
We, at GDP Equity Experts, can’t stress the important of being fully prepared with a plan in place to ensure that your mortgage payments can be maintained. Cut backs to other items of expenditure may be necessary therefore it is vital that you ensure that savings can be made in other areas if required.
Too often too many people choose to ignore these kinds of matters. Please be warned that this is far too serious an issue to ignore. A potential impact of an expensive mortgage rate may result in you no longer being able to afford the mortgage payments meaning you may lose your property.
What we can do to help?
Since 2010, GDP Equity Experts have helped hundreds of families, individuals and businesses deal with debt related issues. We have been leading the way in this regulated area over the last 8 years and have particular expertise in helping people deal with crippling debt related issues.
This debt has included various debt related areas such as loan sales to Private Equity Firms, debt shortfalls following the sale of a property and general unsecured debt such as credit cards and loans.
We would like the opportunity to share this with you. As a result, our team are more than ready to engage and assist if you have been affected by this or you have any other property debt related issues.
GDP Equity Experts know what is expected and how to get you to where you want to go. We WANT to hear from you today because we WANT to help you today.
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