Right now, for many, it is nearly impossible to get a best mortgage deal, but this may soon change if current efforts to help consumers are put into action. Although it is very difficult to get a best mortgage deal in the current market, there may be a way to help home buyers, particularly to help keep them safe from fraud, according to many experts.
Michaeol Coogan, the director general of the CML said, “We will continue to work on behalf of the whole industry with the FSA and others to ensure fair practices are maintained. And we continue to press the government to play its part in creating an effective safety net for vulnerable borrowers facing a short term loss of income through better state support.
“No-one wants to see a household lose their home, and repossession typically leads to a loss for the lender as well. The focus of lenders’ arrears management policies today is on seeking realistic alternatives that balance the interests of customer and lender. Anyone who thinks they may be heading towards financial problems should contact their lender to discuss their options - the earlier the better.”
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