Go Ahead..Make Your Day!
Mark Alefounder
Business Advisory Manager | Business Growth | Let's Do Business Group (Essex) | Helping Businesses Grow & Thrive
Bad Credit, Adverse Credit, Credit Problems or Debt Issues. These are just a few of the many terms for ultimately the same problem and many people still think that having any of these simply means you can’t get a mortgage.
It may be that you’ve already struggled to get a Mortgage. You’ve tried those Banks and Building Society’s that immediately spring to mind, and the High Street has said no. Now you think you have nowhere else to go.
You could be wrong. Very wrong in fact.
There are options if you have Bad Credit. Mortgages for people in your position are available. There can be many reasons why you don’t have a perfect Credit Score, we can recommend those lenders who will look to assist you. If you don’t have experience of finding these Mortgages you may never do so no matter how hard you try. We can talk to lenders with experience of all sorts of problems and often provide finance you may have thought was impossible to attain.
Many bad credit mortgages are only available via mortgage brokers, so meeting someone like myself should be a priority. What’s more we know which lenders are likelier to accept someone with your circumstances, which of course boosts your chances of getting approved.
There are many lenders who will now consider a certain amount of adverse credit with levels being dependant on the product chosen. Each and every lender is different but purely as a guideline only the following is an indication of what these Lenders will deal with.
· Defaults. No more than 5 in the last 24 months
· CCJ`s. No more than 3 in the last 24 months
· Mortgage arrears: 1 in 12 months, 3 in 36 months (worst status), 0 in last 3 months
· IVA / Bankruptcy. Must have been discharged for 6 years
· Repossessions are not accepted
· Debt management plans: In some instances, there are specific product ranges available.
In addition to the above, applicants should not have had any defaults, CCJs or mortgage/secured arrears recorded in the three months before any application is made.
We can provide you with completely impartial advice searching the market to find you the best deal to suit your circumstances. The initial consultation is FREE, and you only pay a fee if you decide to go ahead with a mortgage.
You don’t have to let what’s happened in the past influence your future.
Contact us via https://optimum-ifa.co.uk/contact-us/ or call us on 01206 366 700 for a chance to change your future