If your looking for a Mortgage Broker to help you with a Mortgage with Bad Credit even with 10% deposit (90% loan to value) then you have come to the right place.
If your mortgage request has been turned down by your bank we may have the perfect replacement lender and product. In fact, it’s currently one of our best sellers and rate for clients looking for a Mortgage with Bad Credit with low deposit levels.
The minimum deposit is just 10% which is market leading for a product of its type and the lenders can work with Employed, Self Employed and Contractors with daily rates. Others lenders Mortgage with Bad Credit products often need the client to put down a deposit of 15% to 20% which makes this product really stand but the lender is also very flexible with other criteria which I have outlined below.
The Mortgage Lender will consider:
- Multiple income streams
- Contract workers including zero hours and agency workers
- Bonus income
- Debt consolidation
- Fostering income
- Investment income including property and vested shares
- Mortgage subsidy
- Car and travel allowances
- Net profit for family run limited companies
- Bursary income
In addition, bad credit issues such as:
- CCJs registered over two years (satisfied is preferable).
- Defaults registered over two years. All communications defaults are ignored.
- Current Debt Management Plans (DMPs) that have conducted well for the last 2 years.
- Unsecured borrowing arrears that have been bought up to date (no more that status ‘2’ on your credit record in the last 12 months).
- Mortgage arrears that occurred over 2 years ago.
Niche Advice specialises in helping clients who have been turned down by the high street and can help clients find a Mortgage with Bad Credit . To find out more on how we can help please complete the Contact Form on this website or call T: 020 7993 2044. We are so confident in our ability we will not charge you a penny until your mortgage has been fully approved and the funds are released.
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.