Do lenders help their clients? Ask London Mortgage Broker, London Mortgage Advice Thursday, 17th December 2009

A number of homeowners have requested a temporary move to interest only mortgage arrangements although there appears to be resistance within the UK mortgage industry to allow this particular strategy at the moment. Over the last few days there have been stories in the press regarding couples who are finding it difficult to keep up with their mortgage repayments, with many on capital and interest repayment deals. So should mortgage companies help troubled homeowners?

You would be mistaken for assuming that the UK government is putting pressure on mortgage lenders to assist UK homeowners who are experiencing financial difficulties at the moment, if you have read the financial press over the last six months . However, in reality a number of major mortgage lenders in the UK are refusing to even consider short-term changes to mortgage deals even though they could in many cases save homes from repossession.

Under the surface there is a feeling that more and more mortgage lenders are pulling up the ladder and unwilling to compromise in many areas, while the official line in the mortgage industry at least be one of assistance and consideration. Whether the UK government can step in and place more pressure on the sector, with any success, is debatable but one thing is for sure, despite many people believing the worst is over in the UK property sector there are still problems aplenty for many.