Mortgage prisoners are stuck on rates of up to nine percent. Some families in Antrim and Ballymena are at breaking point with their finances and urgently need help.
It is estimated there are circa 220,000 United Kingdom based borrowers caught up in this net. They are unable to move to a new fixed deal because their lender is inactive or closed following the 2008 financial crash.
Some people stated they may be looking at dealing with repossession, and felt suicidal, and have lost partners because of the stress involved in meeting their mortgage payments
Some MPs are calling on the government to place a cap on inactive lenders to provide fixed costs to mortgage prisoners.
As mortgage brokers of 42 years, we are dealing with people who find themselves in this precarious position.
It seems that rates may well come down soon. But will that be too late for some?
For free advice contact us through our website www.mortgageoptionsni.co.uk