Belmont Thornton Logo
PPI Claims - About PPI

PPI Claim News

 
Difficulties with loan charges 'can make mortgages hard to access'

People who have struggled to pay off credit card charges and have been forced to make payday loan claims could find they are ineligible to apply for a mortgage.

Your Mortgage Decision director Dominik Lipnicki said the coalition's funding for lending scheme has reduced rates for housing finance loans, but lenders are "still trying to attract the same clients".

As a result, only members of the public with sizable deposits, sufficient provable income and a "clean credit rating" will be eligible to take advantage of the lower mortgage rates, he added.

The representative noted that mortgage lending has fallen since the credit crunch "because of lending criteria rather than high interest rates".

Many people are therefore unable to remortgage, move house or purchase their first home because they "do not fit the lender's very tight lending criteria", Mr Lipniki said.

Recently, the British Bankers' Association reported that the number of mortgage approvals granted to people who wished to buy a home was 17 per cent lower in June 2012 than it was in the same month one year prior.

John Fieldman
Having worked in the city for 19 years, John's main focus is interest rates and corporate financeADNFCR-2776-ID-801435910-ADNFCR



Bookmark and Share
Tell a Friend
blog comments powered by Disqus

Enquiry Form

First Name 
Last Name 
Mobile Phone
Home Phone
Address Line 1 
Town
County
Post Code 
Email 
Circumstances
Claim Back Mis-Sold PPI Button

Belmont Thornton Limited is regulated by the Claims Management Regulator in respect of regulated claims management activities; our registration is recorded on the website www.gov.uk/moj/cmr number 18273

Belmont Thornton Limited is incorporated in England and Wales, Company number 6621233, whose head office at Unit B16, Kestrel Court, Harbour Road, Portishead, Bristol, BS20 7AN and registered office at Harwood House, 43 Harwood Road, London, SW6 4QP.

Belmont Thornton Limited is registered with the Information Commissioners Office. Registration number Z1728023.

Please note that calls may be monitored for the purposes of staff training.

* Belmont Thornton operates on a "No Win No Fee" basis. This means that there are no upfront costs to pay. Our fee only becomes payable on a successful outcome of a claim. A cancellation fee is payable if you decide that having instructed Belmont Thornton to act on your behalf, and after 14 days of signing your Letter of Authority, you do not wish to continue pursuing your claim with us. The cancellation fee is the reasonable costs incurred for the work undertaken. Please see our terms of engagement.

By using our web-site, you agree that we can place the types of cookies described in our privacy policy on your device.Hide