Gail
Published 18/02/2022Gail ran ito financial difficulties after buying a three bedroomed, semi-detatched house with her partner seven years ago. The couple split up shortly afterwards, and Gail struggled to pay the £70,000 mortgage on her own. "I went to an independent financial adviser but he told me the only thing I could do was hand back the keys", she says
But Gail was detirmined to keep her home, and took on two jobs, working in a factory and as a mini-cab driver. "It was a real struggle, especially as I have four children" she says. "I fell behind on the repayments on a personal loan but I was determined to keep a roof over our heads".
She missed one mortgage payment to her lender but caught up the following month. This still appeared on her credit record as did her personal loan arrears.
This made it hard to obtain credit, and my own bank refused me an overdraft, even though I didn't owe any money.
Gail, 43 still wouldn't give up and went into business with a friend, setting up a mini-cab company. Slowly, she turned around her finances.
She was keen to switch to a cheaper mortgage mortgage but was unable to set up an improved deal with her current lender.
Homesavers Mortgages and Loans re-mortgaged her to a specialist lender enabling her to keep the property and reduce her outgoings.
I was very pleased and my finances are now much healthier.