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Struggling mortgage holders `should seek advice` Remortgage enquiries `rise in June` Mortgage approvals `up in June` UK mortgage market remains weak, CML says Consumers `should avoid lying on mortgage applications` BoE releases Trends in Lending report Brits `prioritising debt repayment` "Sensible lending" needs to be restored for home buying Many households `to miss mortgage payments` Homeowners `increasingly paying off mortgage debt` Booklet produced for those facing mortgage repayment problems Local authority defends decision to offer 100% mortgages Mortgage lending levels `still low` CML welcomes campaign on repossessions Consumers `increasingly offsetting savings against mortgages` Banks `should be encouraged to provide more mortgages` Younger and richer people `benefiting more from mortgage reductions` Bank of England cuts base rate Negative equity `concerning UK mortgage holders` Interest rate cuts `were not anticipated by consumers`

CML stresses need to talk to mortgage lender

29/05/2008

In news which may be of interest to those looking to avoid bad debt, the Council of Mortgage Lenders (CML) has highlighted the need for individuals to contact their mortgage lender if they discover they are facing problems with loan repayments.

According to Bernard Clarke, a representative for the CML, while it is possible for lenders to assist borrowers in a number of different ways, it is essential that they be contacted before the borrower misses a first payment.

"The most important thing is to talk to their lenders if they think they are going to have a problem - even before they miss a payment," said Mr Clarke.

"Lenders have a range of options to help people depending on their circumstances and the range of options available is widest if the borrower talks to the lender at the earliest opportunity."

In related news, according to data released by insurance company AXA, at the end of last year a total of 0.48 per cent of all mortgages were in arrears by more than six months.

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