Blue Sky Financial Blog

Many Mortgage holders are concerned at their ability to pay their mortgage in the event of losing their job. While there is a lack of stipulation data there is a substancial amount of anecdotal evidence which suggests that the take up on Mortgage Repayment Protection is low. Customers are strongly advised to discuss the situation with their broker or lender at the earliest possible stage. Banks will enter into arrangements such as interest only payments for a period, repayment holidays etc. In most cases entering into arrangements before arrears occur will protect the customers credit rating. Are there areas where the customers can cut back? The Blue Sky Price Check Challenge will help to identify areas of possible expenditure reduction. Â