A solution for mortgage prisoners?
Do you have a mortgage with a lender that no longer exists or are you stuck on your lenders standard variable rate? If so, we might be able to help!
We are working hard here at Concept to support those that are badged as mortgage prisoners.
Support for Mortgage Prisoners
The Financial Conduct Authority (FCA) has recently revised their guidance and has welcomed intermediaries such as ourselves to provide support and advice, wherever possible, to those that may have historically had mortgages placed with lenders that no longer exist or with unregulated entities. This is all in support of a national campaign to support these borrowers that have been titled ‘Mortgage Prisoners’.
Here at Concept Financial Services, our advisors have access to the majority of lenders in the UK and the products that they can offer. We have recently been very vocal that the industry needs to come together to help those that have been classified as mortgage prisoners.
If you have not been provided with a suitable product at the end of your deal or have been left on a lender’s standard variable rate (SVR), please get in contact so we are able to look at alternative options available to you.
Our deep-rooted relationships with this broad range of lenders results in us ensuring that the needs of borrowers are met with a product that is affordable.
Your home may be repossessed if you do not keep up repayments on your mortgage.
Our fee for this service is £250 or 0.5% of the loan amount, if greater. Typically this will be £250.
