ADVERSE CREDIT MORTGAGES
I specialise in Adverse Credit Mortgages because there are very few brokers dedicated to offering advice in this area. Understanding adverse credit lenders criteria is far more complex, detailed and time consuming than dealing with a mortgage from a High Street lender.
With only a few sub prime lenders to choose from, getting it right first time is very important.
Unlimited mortgage, secured or unsecured arrears if over 12 months ago but none missed in the last 12 months and up to 75% LTV
Many people I talk to are delighted to find that after talking to me they do qualify for a mortgage having been made Bankrupt as they have assumed they would have to wait 6 years.
As with any form of adverse credit, one of the most important considerations a credit lender will want to know when looking at the CCJ's on your credit file is the date they were registered.
Any defaults registered over 2 years ago can be ignored, do not have to be repaid and you can borrow up to 85% of a properties value.
It’s only natural to worry about how a DMP could affect your mortgage application. A DMP doesn’t mean you’re unable to apply for a new mortgage.
Understandably lenders are wary of lending but borrowing up to 75% is available provided you have not been repossessed within the last 12 months.