Your House Could Be At Risk From Unscrupulous Banks and Their Charges

Whilst there has been a slight improvement in the state of the housing market, nevertheless, in many sectors, there is extreme pressure being put on mortgagors’ finances. Property owners are defaulting on their mortgage loans in droves and many do not realise that they can negotiate terms over a protracted length of time to ensure the stability of a roof over their heads. Lenders are more sympathetic the earlier help is sought and communication is kept open without the need for borrowers to bury their heads in the sand.

It is time to fight! Apart from trying to increase income to pay off debts, the old saying 'a pound saved is a pound made' still holds true and one way to achieve that is to stand up against the banks and their unfair charges.

There has been an unprecedented increase in credit card bank charges complaints over the last two years; together with claims for unfair domestic account charges - for instance, £35.00 a pop for going beyond your overdraft, bouncing a cheque or direct debit. Add to that, excessive charges known as MEAFs – Mortgage Exit Administration Charges – and the wrongful, highly pressurised selling of PPIs – Payment Protection Insurance policies, and you have a plethora of tools in your armoury. In fact, the Office of Fair Trading, on behalf of consumers, has a major case pending in the House of Lords concerning this.

So, it makes sense that if you are under pressure financially and your house is at risk then claim like mad against the banks on all their charges. Obtain the various template letters from the help sites on the internet. For those holding credit cards started prior to April 2007 there is also the very good chance that these agreements are illegal and can be made void. Challenge the banks and gain time to put your house in order. Yes, it may damage your credit rating, but that is a small price to pay to keep your sanity and your house.

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