Brunel Independent Mortgages

In light of the credit crunch and many more announced redundancies in Plymouth (and elsewhere) Brunel Independent Mortgages are offering a ‘free redundancy clinic’ to all those people whose jobs are at risk. This is in response to the fact we are seeing more and more people approach us who are in (or are concerned about) financial difficulty due to redundancy. In the current climate it is difficult to find another suitable job, this adds more pressure to households already feeling the pinch.

We are able to assist redundant people or those under redundancy notice in the following ways:-

• Prioritising debt and making arrangements with creditors as necessary
• Assisting with mortgage arrears and court cases for debt collection
• Help to reduce outgoings by restructuring and/or consolidating as appropriate
• Referrals to other professionals for tax, legal and investment advice

We are regulated by the Financial Services Authority (FSA) for mortgage and insurance advice and by the Office of Fair Trading (OFT) for debt counselling. We do not aim for quick fix schemes, we build long term relationships with our clients, as testified by the amount of referrals we receive.

Many clients who are made redundant are unaware of their options and sometimes seek advice after running into difficulties. Seeking advice at the first opportunity could prevent those difficulties arising. It is important to remember that any bad credit will affect your credit worthiness for at least six years.

Brunel Independent Mortgages have two convenient high street offices, one in Saltash, Fore St and one on Plymstock Broadway. Please remember all our initial advice is free. Call to make an appointment on 01752 200002

Figures published today by the Insolvency Service show the number of personal insolvencies reached 27,807 in the third quarter of 2008, an increase of 8.8% on the previous quarter!

As many people now feel the credit crunch, this figure may well increase. There are of course some less severe options than IVa’s. Contact us now with any debt worries. All enquiries treated in the strictest confidence. 01752 200002

Lenders have come under pressure to make hefty cuts in their mortgage rates following the shock cut in interest rates by the Bank of England.

But the Council of Mortgage Lenders has responded by saying lenders will cut rates by 0.5%-1.5% in the coming weeks.

The Bank Rate was cut from 4.5% to 3% on Thursday and the chancellor has called on lenders to pass the rate reduction onto their borrowers.

So far, only Lloyds TSB and Abbey have said they will pass the cut on in full.

The CML warned that the precise level of the reductions would be a commercial decision for each individual lender.

Michael Coogan, director general of the CML said: “The problem banks have got is that they have limited funds and don’t have enough money to give to all the customers who may want them.”

“I think over the next few days and weeks we will see that the banks and building societies will move by anywhere between 0.5% and 1.5% - the individual decisions will be on the basis of assessing what they want for their savers as much as what they want for their borrowers,” he added.

Source: BBC News

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