Bad Credit Mortgage solutions from Expert Mortgage brokers helping clients for over 10 years
At Niche Advice we specialist in helping clients with bad credit working with many specialist lenders and offer Bad Credit Mortgage solutions. Often the devil is in the detail and understanding when certain historic credit issues are excluded by Lenders from the overall picture and as such improving on the product terms. We do this day-in-and-day-out so why trawl through rafts of paper and make multiple calls when we have the facts to hand. .
No upfront Broker fees by us. You only pay once the deal completes.
Bad Credit Mortgage Criteria
Bad credit can be defined as one of more of the following, and at Niche Advice we have helped many clients with these issues obtain a Bad Credit Mortgage:
- Late payments
- Exceeding overdraft limits
- Satisfied or unsatisfied County court judgments (CCJs)
- Current or settled Defaults
- Mortgage and rent arrears
- Arrangements to pay reduced amounts either directly with the Providers
- Current or settled Debt Management Plan (DMP)
- Residential mortgage applicants including debt consolidation
- Buy to let mortgage applicants
- Right to Buy applicants
- Help to Buy applicants
- Shared ownership applicants
- Applicants with PayDay loans (not in last 3 months)
- Applicants with raising credit card or store balances
- Discharged Bankrupts
- Discharged Sequestrations
- Debt relief order (DRO)
- Current or settled Individual voluntary arrangements (IVA)
- Current or settled Administration Orders
- Historic Repossessions
- Commercial mortgage applicants
- Single applications for Married couples
- Individuals on VISAs without the rights to reside in the UK indefinitely
- Properties in mainland Scotland
How can we help with Bad credit mortgage when others fail? Well most of the Lenders do NOT allow access to the general public and go under the radar of vanilla Mortgage Brokers.
Think carefully before securing other debts against your home
Example Product – Bad Credit Mortgage (Residential)
The total amount you must pay back, including the amount borrowed is £524,974.28
Features: Unlimited CCJs and Defaults registered 2 years OR satisfied a year. No mortgage arrears in the last year.
|Type and initial benefit period||Fixed until 1/12/2020.|
|Minimum deposit / equity:||10%|
|Telegraphic transfer / CHAPS fee||£25|
|Lender Legal fee charged to your solicitor||£103|
|Early repayment charge||3% of the amount repaid in the fixed period|
For more information on a Bad Credit Mortgage products please call complete the enquiry form on this page or call the number below.
You are consolidating your existing financial commitments, you should therefore be aware that whilst this may mean you will make short term savings, over the long term, you may end up paying more. This is because you may be extending the period of the loan. You are also transferring previously unsecured debts to a mortgage which is secured on your home. The reason you want to consolidate your existing debts is to reduce your monthly outgoings.
Please also be made aware Lenders tend not to look favourably on applicants that have a repeated history of debt consolidation so future finance for this reason may be hard to obtain.
Residential and Buy to Let Mortgages
Rates current as at 09/10/2018 . The overall cost for comparison is based on an open market value of £300,000 over a 25 year term. Right-to-Buy examples are based on a discounted purchase price of £200,000. Repayment for Residential and Interest only for Buy-to-let (unless otherwise specified). Eligibility will depend on your own personal circumstances.
KEY – ERC = Main early repayment charge.
The purpose of this web is for information only and is based on a fictitious illustrative scenario. It does not constitute a Mortgage Offer in any way.