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You are here: Home / Mortgages / Mortgage after an IVA / Bad Credit mortgage CCJ defult IVA discharge bankrupts

by Payam Azadi

Bad Credit mortgage CCJ defult IVA discharge bankrupts

New Bad Credit mortgage with a number of large CCJs, Current IVAs and discharge bankrupts

Credit solution for applicants who have had a life changing event and are looking for a Bad Credit mortgage.

This article is aimed at mortgage applicants who may have experienced the following:

Payam Azadi Mortgage broker london✔ Repossession.
✔ Current debt management plans.
✔ Discharged bankruptcy.
✔ Current IVAs.
✔ Up to 5 CCJs (including large ones!).

I regularly hear clients complain about their credit issues and how they occurred, and importantly how they are preventing them getting a Bad Credit mortgage.

I am always sympathetic to their plight as I believe everyone should be entitled to be a homeowner in this country – bad credit or otherwise. However, perhaps unsurprisingly, many mortgage applicants with past credit issues are prone to overstate their rehabilitation or are simply blind to the facts.

This new bad credit mortgage funding line I have access to can help with all manner of ills but if you want to use it you must be able to isolate the credit issues to a solitary event, for example, business failure, job loss, divorce, bereavement of immediate family member etc.  If you have had credit problems before or after the event forget it. [pullquote]WE DO NOT CHARGE ANY UPFRONT FEES[/pullquote]

So it is aimed at the open eyed and honest applicants who have perhaps been through the mill and plan never to return there or make a late payment again and the key criterion is NO credit issues can have occurred in the last 12 months.

The rates start around the 5.5% mark and range up to 6.5%. The key for this product is to get you on the ladder before the house prices are too high.

There is NO early repayment charge so as soon as you are able we will remortgage you to an alternative conventional lender. Getting a Bad Credit mortgage requires a lot more work and expertise so it is essential to seek professional mortgage advice before you start applying to different lenders. At Niche Advice we have helped many clients get on the property ladder having had past problems with credit and will work with you to formulate a strategy and find you a suitable bad credit mortgage product .

WHO QUALIFIES?

Eligibility

  • The reason for the adverse credit must be attributed to a solitary life changing event,
  • No credit issues registered in the last 12 months.
  • Minimum deposit between 25% and 40%.
  • Up to 3.5 times your income.
  • Minimum income £25,000.
  • Minimum loan £50,000.
  • Not open to Right-to-Buy, Help-to-Buy or Shared ownership applicants.
  • Employed and self-employed (only 1 year’s trading).
  • England and Wales only.

If your in need of a Bad Credit mortgage please call us on 020 7993 2044 alternatively complete the online enquiry form on this page.

Payam Azadi is a partner at Niche Advice Ltd who are Independent Financial and Mortgage Advisers in London and is an experts in getting a mortgage for doctors in the UK.

View Payam Azadi's profile on LinkedIn

Mortgage broker fees

 

 

Payam Azadi

Author: Payam Azadi

Payam Azadi is a partner at Niche Advice who are whole of the market Independent Mortgage Brokers. His role is very much focused on Property financing both on residential and commercial lines. To get in contact with him please click here.

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Filed Under: Mortgage after an IVA, Mortgage after Bankruptcy, Mortgages with Bad Credit

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AS A MORTGAGE IS SECURED AGAINST YOUR HOME OR PROPERTY, IT COULD BE REPOSSESSED IF YOU DO NOT KEEP UP THE MORTGAGE REPAYMENTS.

If you are thinking of consolidating existing borrowing you should be aware that you may be extending the terms of the debt and increasing the total amount you repay.

Niche Advice Limited is a Credit Broker and does not lend money directly to clients. Niche Advice Limited is authorised and regulated by the Financial Conduct Authority. FCA Number: 750263.

Commercial Buy-to-Let and commercial mortgages are not regulated by the Financial Conduct Authority.

Our Fees

Click here for our fees structure. A full detailed fee plan will accompany all our quotes.

Niche Advice Limited has a commercial arrangement under an affiliate programme with Check My File and is remunerated for referrals.

Terms and Conditions

If you wish to register a complaint, please write to us on the details below or call us on: 020 7993 2044.

Correspondence Address: Niche, Unit F6, The Addington Business Centre, Vulcan Way, New Addington, Surrey CR0 9UG.

A summary of our internal complaints handling procedures for the reasonable and prompt handling of complaints is available on request and if you cannot settle your complaint with us, you may be entitled to refer it to the Financial Ombudsman Service at www.financial-ombudsman.org.uk or by contacting them on 0800 0234567.

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CONTACT NICHE ADVICE
Tel: 020 7993 2044

Registered Office: Niche, Unit F3, The Addington Business Centre, Vulcan Way, New Addington, Surrey CR0 9UG. Registered in England & Wales. Company registration number: 06599033.

Members of The Financial Intermediary & Broker Association - Number SBS36389

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