UK BAD CREDIT MORTGAGE LOAN

If you have a chequered financial history with defaults or CCJ’s and you have had difficulty obtaining a loan for property purchase we can help by making arrangements for a ’bad credit mortgage loan’. This terminology sounds unpleasant but it really just means that you will be able to borrow money but at higher interest rates than the normal basic rate. Again this doesn't sound too pleasant but it’s not all bad news. The increase in rates is minimal and merely takes into account the extra financial risk perceived by the lender, who is not at risk of losing money as the loan is secured on property but is at higher risk than normal in regards to default which may necessitate the payment of legal costs to take action to recover the loan from the security.

A bad credit mortgage loan becomes necessary when a personal report, obtained by the lender, from one the big credit agencies, which includes Experian and Equifax shows a history of previous financial difficulties which may include defaults in payment, late payment or county court judgements. Many of the larger financial institutions will simply not lend to anyone who does not have a totally clear record based on their own scoring techniques. Our lenders consider every application on an individual basis and on its own merits. They do not believe that ‘one size fits all’ and if necessary will ask further questions to clarify matters rather than just rejecting an application.

In addition to dealing successfully with bad credit mortgage loan applications we can also obtain loans for the newly self employed who do not have substantial accounts records to justify borrowing and those people who have no financial history at all either because they have never borrowed money previously or because they are newly arrived in this country including those from the recently expanded EC. In the case of the self employed we are able to arrange ‘self certification’ borrowing where the applicant merely confirms their income without the necessity of proving it by reference to certified accounts, trading books or financial records.

If you want the best deal on the market you have come to the right place. We will search our data base of lenders to find a secured loan arrangement that will satisfy your needs. We are totally independent and we have no affiliation with any specific lender. Our service is totally free and after obtaining information from us or direct from a lender you are under no obligation to continue and you will not be charged one penny if you walk away. The overall sum that you can borrow is dependent on your personal circumstances and the following matters are taken into account :-

• financial history
• family income
• existing credit commitments
• property value
• deposit available

In addition to providing information in relation to borrowing we may also be able to help you to improve or repair a poor financial rating. If you have CCJ’s, have defaulted on previous loans, are a discharged bankrupt or are the subject of an individual voluntary arrangement (IVA) we can probably help you on the road to home ownership. You should first obtain a copy of you records from Experian or from Equifax or any other relevant credit reference agency and thoroughly check it out. If there are any mistakes, and this is often the case, then you should contact the agency involved to put matters right. A poor rating may be a matter as simple as a dispute over an unpaid bill or an account not being settled due to a house move and post not being re-directed or late credit card payments due to holidays or other commitments.