Bad Credit Mortgage- Everything You Need to Know
Are you looking for a mortgage and yet you have bad credit We specialise in helping those with credit issues get mortgages. We know that there are certain lenders that can help you. Now With regards to a bad credit mortgage, banks and building societies can behave cautiously towards the person they will lend. Those specific moneylenders only want to deal with individuals who have flawless financial records, culminate work records and large deposits. Anyhow, at apple finance we live in reality. We understand that money-related challenges can influence almost everybody whenever and often with very little warning but the financial consequences can be addressed and there are financial solutions.
Country Court Judgment’s
Having Defaults, County Court Judgment’s (CCJ’s), a home repossessed or a previous Bankruptcy can make it hard to find a mortgage product.
Sometimes individuals get into the debt because of the financial decisions that they have made, others ended up in debt despite their best attempts to remain financially stable. Regardless of whether they have been at fault, it’s the only right that they need to get back on the property ladder.
They might be looking for new remortgage deal which may save them money or could possibly reduce their monthly outgoings regardless of whether they do have a low credit rating or adverse credit.
Fortunately, at Apple finance this is what we specialise in finding the correct lender for your circumstances. In spite of the fact that the lion’s share of High St banks and building society’s need you to have an immaculate record of loan repayment, it’s invigorating to realise that there is an increasing number of banks and building society’s returning into the market who will give adverse credit mortgages and finance again. Interest costs and mortgage rates are probably not going to match exactly with the high street lenders they will charge more however it is a route back into mainstream mortgage finance
Interest Rate Cost
The banks and building society’s will always keep a level of partition between their standard mortgage products and their adverse financial loans and mortgages. There are mortgages which in effect are credit improvement loans, if you keep up with the correct payments on time the lender will consider lowering the interest rate closer to a high street bank mortgage rate. Over a period of time, subject to your credit rating it may be possible to switch to standard mortgage product if you meet the lenders criteria. Of course it is the lender who decides the level of risk and they will set the interest rate and the mortgage product accordingly. They will of course assess your situation and check your credit file and make a decision not everyone is successful and obtains a mortgage. What we will do is keep you up to date with the mortgage case and let you know what is happening. So you will know where you stand and the steps that need to be taken to obtain a mortgage or improve your current situation and apply in two months time when your credit score has improved.
Complete the enquiry form and a local mortgage advisor will contact you to discuss your circumstances at a convenient time for you. Or speak direct to one of our mortgage advisors on 01902 213201
8am-8pm Monday to Friday.