Due to our experience and understanding of mortgages, we’re delighted to be able to announce this incredible package that helps meet the needs of so many enquiries that come in to our offices.
We’ll advise you based on your particular and unique circumstances. We understand the complexities of day-to-day finances, as we’ve heard it all and seen it all before. So no matter what your credit and financial history, do talk to us – we have hundreds of different lending packages available to us and we will always choose the most suitable one for you and your family.
Circumstances and criteria
Below are just some areas where we may be able to assist clients who for one reason or another may have experienced serious or high level adverse credit problems in the past. Please note, we can’t be guaranteed that we can assist every single application that appears to meet this criteria as obviously each individual’s circumstances are unique.
Once we receive a fully completed fact-find, we will then be in a position to fully assess your circumstances and advise on the best way forward.
Our mortgage package for bad credit allows for:
- High income multiples
- Self-employed Mortgages for applicants who have only been self-employed for one year can borrow up to 85% of the purchase price or the value of the property if re-mortgaging
- Three missed mortgage payments in the last year: but the applicant must not have missed the last three month’s mortgage payments and must be up to date with the mortgage at the time of application – can borrow up to 75% on purchases or re-mortgages and rates start at 3.98% on 2 year fixed rates (please note rates can change between now and application stage so please check with us first on what rates we can obtain for you)
- With defaults and county court judgements (CCJs) applicants must have none within the last six months and they do not have to be satisfied.
- There is no limit to the value of the county court judgements so, as an example, if an applicant has a CCJ for £100,000 that remains unpaid, that case may still be accepted.
- Defaults are also allowed but the total amounts must not exceed £5,000.
- IVA and Bankruptcies that have been discharged two years or more can also be accepted.
- Repossessions: Any clients that may have had a property repossessed which was three years old or more can be accepted up to 75% of the property value or 80% of the property value if the repossession was six years previous or more.
- Flats above shops, including bars, restaurants and take-away’s can be considered up to 60% of the property value or 75% if they are not shops, bars or take-away’s etc. Again, please enquire for further details.
- 95% on new build houses or flats: again, this applies for applicants who experienced adverse credit but please check with us to enquire as to how much adverse credit can be accepted on these plans.
- Pay-day loans: Pay Day loans showing on a credit file are grounds for rejection by many lenders but for this package, can be accepted providing that the applicant has not taken out any pay-day loans within the last six months.
- We can re-mortgage up to 90% of the property value for any reason with the exception of debt consolidation where we can re-mortgage applicants up to 75% of the property value
- Applicants who have only been employed for one month or more can be accepted with one month’s payslip but the applicants must not have any probationary period written into their new contract of employment
Again, every mortgage enquiry is different
Therefore we view each application individually; the above are just a small summary of some of the financial and personal circumstances and criteria that we may be able to assist with.