2 Sep

'Let your landlord know' if you're behind on mortgage repayments

'Let your landlord know' if you're behind on mortgage repayments

One or two late mortgage payments may be acceptable as long as homeowners talk to their landlord or mortgage company and let them know what is going on, according to one property expert.

Chris Jenkins, co-owner of the Homeowners Advice Centre, said that more people are currently being employed on temporary contracts which can lead to them being unemployed at short notice, thus not allowing any time for forward planning.

His comments follow the Ministry of Justice's launch of a series of online guidelines for homeowners in danger of repossession, which went live on August 31st.

"The key is always communication; explain the situation you are in and make whatever payment you can afford," said Mr Jenkins.

The news comes after the Council of Mortgage Lenders reported that the number of repossessions in the second quarter of 2009 fell by ten per cent compared to the first three months of the year.

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