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Newsletter

CML urges those having difficulties with mortgage payments to 'contact their lender'

By Jonathan Dawes, Mon 9 Jun 2008 - Published in Mortgages

Housing affordability and supply are two of the greatest challenges facing borrowers in Northern Ireland, according to the Council of Mortgage Lenders (CML).

Speaking to delegates at CML Northern Ireland's annual lunch in Belfast this week, incoming chairman, Trevor James, said that another priority for the organisation was helping people who were having difficulty making mortgage payments.

He commented: "The most important step for anyone who finds themselves in this position is to contact their lender as soon as possible.

"We will do what we can to assist you," he added.

Trevor James is area manager at Progressive Building Society and takes over the chairmanship from Derek Wilson, head of mortgages at Ulster Bank.

Mr James said he looked forward to continuing "Derek Wilson's good work".

Meanwhile, Your Mortgage has said that, regardless of the credit crunch, people should always shop around for the most competitive deal available.