Taking Credit
When it comes to buying a home, most mortgage lenders take on a rather inflexible attitude when it comes to lending money. The majority of ‘High Street’ lenders want to deal only with customers who have faultless credit histories, perfect work records and adequate deposits but money problems can affect everyone. Adverse credit problems can be linked to a loan default, late payments, County Court judgments or perhaps you may have even been bankrupt in the past.
Sometimes people get into debt through no fault of their own. With over 25 years experience and working with thousands of clients we have seen everything. Whatever your circumstances we will listen to you and assess exactly where you are with credit. Once we know about your credit history we can offer you advice about your ability to get a mortgage.
The great news is that we work with lenders that are willing to provide adverse credit mortgages. We have lenders that can lend up to 95% of the purchase price even if you have an imperfect credit file. These lenders tend to look at your recent credit history for say the last 1-2 years rather than simply decline you for something that happened to your finances some 4-6 years ago.
And even better news is that the interest rates charged by lenders in the adverse credit market have become much more reasonable, indeed some interest rates are not much higher than those charged by mainstream lenders.
Once you have been on an adverse credit mortgage and kept up to your payments for 2-3 years we can re-assess where you are and look to try move you to a better deal with a mainstream lender so there is a clear pathway to a brighter financial future.
Remember though, mortgage deals may not be available and lending is subject to individual circumstances and status, but if we can’t do it then it cannot be done!
Jump on our ‘Check your Credit’ section and download your file, contact us and start the process.
A MORTGAGE IS A LOAN SECURED AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE OR ANY OTHER DEBT SECURED ON IT.
