CHL to help prevent tears from arrears

CHL Mortgages has added a raft of information on its website to help customers looking for advice on arrears.

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The information has been designed to to provide customers who may be experiencing payment difficulty with answers to a range of frequently asked questions.

It outlines CHL's position in regard to missed payments and highlights what support is available to borrowers to help ensure they are able to stay in their homes.

The website also has links to both the FSA's 'money made clear' website and the regulator's leaflet on what to do when you cannot pay your mortgage.

Bob Young, managing director of CHL Mortgages, said: "The addition of this information on the CHL website provides customers with a raft of information on our arrears policies plus answers to many questions that our borrowers may have if they are experiencing payment difficulty. CHL has always run effective arrears management procedures including a strong commitment to treating customers fairly and we have taken this action in line with the Council of Mortgage Lender's commitments and to improve our own communication to customers.

"All CHL customers now have access to our policy on arrears and this should help them understand what could happen in the event of non-payment. It is also vitally important our customers know that should they experience problems making their mortgage repayments, we are keen to work with them as soon as they are aware a problem may exist."

Phil Perry, director of Cheshire-based Ark Financial Planning Limited, said: "To have something like this on your website is very good and I think more lenders will go down this route as part of TCF.

"It will be useful to advisers as many people have absolutely no idea what to do in the event of something happening to them that may inhibit them from meeting their mortgage repayments."

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