Alan Kimber - Group Head of Sales
At long last it finally looks as though the consumer price inflation rate’s starting to drop from the eye-watering highs we’ve experienced over the past few months.
However, with the bank base rate currently standing at 4.5% and predicted to rise further by the end of the year, things still remain tough out there for a lot of people.
According to the latest research by the Office for National Statistics (ONS), almost half of adults say they’re still finding it ‘very difficult’ or ‘somewhat difficult’ to afford their energy bills1. The ONS goes on to say the struggle to pay the bills could be contributing to an increase in the number of people suffering from stress, with 51% of those who say they’re finding things ‘very difficult’ reporting high levels of anxiety.
And with around 1.3 million fixed rate mortgage deals scheduled to end in 20232, many homeowners could also be facing the prospect of higher mortgage repayments when they come to renew their current fixed rate products.
It means that hundreds of thousands of people, many with adverse credit histories, will be desperately looking to remortgage to avoid dropping on to their current lender’s standard variable rate. The problem many of them will face, however, is finding a lender on the high street who’s willing, or indeed able, to offer them a new product.
Fortunately, as one of the UK’s leading specialist lenders, we offer a range of remortgage options to help your customers keep on top of their cash flow, including those who’ve missed a bill, defaulted on a payment, been served with a CCJ or who’ve entered into a debt management plan arrangement.
Customers can choose between capital and interest, interest only and part and part repayment options, and we’ll calculate affordability according to the repayment method they select.
Monday - Friday: 9am - 5pm
Wednesday: 9:30am to 5pm
excluding bank holidays
2 Charter Court, PO Box 6037,
Wolverhampton, WV1 9QW.
0800 116 4385