Nottingham, UK (PRWEB) March 20, 2007
Enable Finance, the UK specialist mortgage broker is highlighting the innovative new mortgage and remortgage products specifically designed for borrowers currently bankrupt or recently discharged from bankruptcy. These bankruptcy mortgage products have been specifically designed in light of the growing numbers of personally insolvency in the United Kingdom.
In the last quarter of 2006 there were 29,804 individual insolvencies (IVA) a rise of 7.1% on the previous quarter. Bankruptcies contributed 17,063 to this figure an increase of 9.6% on the previous quarter. With these figures in mind its clear that both IVA mortgage & bankruptcy remortgage products are required to help borrowers with this level of bad credit history.
Enable Finance would like to remind people that whilst individual voluntary arrangements and personal bankruptcy can offer a very effective remedy to complex adverse circumstances, home owners should consider their options before they take the plunge. The official receiver or trustee may have to sell your share of the property to clear your bankruptcy debts if you're concerned by this statement and would like to avoid bankruptcy help and guidance is on hand at Enable Finance.
The features of our insolvency mortgage products include finance up to 90% LTV for applicants discharged from bankruptcy yesterday. Schemes to allow for any amount of CCJ's and or have mortgage arrears, applicants wishing to pay of their IVA early and because our mortgage products are designed with the customer in mind we are able to ignore defaults and don't necessarily need you to prove your income as often the product has a self certification functionality.
Phillip Evans, Managing Director at Enable Finance, said: "These genuinely are innovative mortgage products that allow borrowers, for the first time, a real opportunity to clear bankruptcy debt, without necessarily having to sell their family home. Again further developing our bad credit remortgage product features."
For further information about Enable Finance and their Remortgage Loan products and services can phone 0845 070 20 50
Phillip Evans - Managing Director
DDI: 01623 812902
Think carefully before securing other debts against your home. Your home may be repossessed if you do not keep up repayments on your mortgage. Adding existing debt to your mortgage will increase both the repayment term and the overall cost. The overall cost for comparison is 8.65% APR. The actual rate available will depend upon your circumstances. Ask for a personalised illustration. There will be a fee for arranging mortgages, normally 2% of the advance, minimum of £1,950 and a maximum of £3000 (i.e. £100,000 loan = £2,000 fee). All cases will be assessed on an individual basis
Notes to Editors:
Enable Finance Ltd. caters for borrowers whose credit histories fall outside high street lending criteria - for example; adverse credit; self certification; irregular income patterns. Enable Finance is authorised and regulated by the financial Services Authority (FSA). It is a member of the Finance Industry Standards Association (FISA) and the National Association of Commercial Finance Brokers.