I have a poor credit rating - can you help?
Our specialist adviser may be able to help people that have had the following:
* CCJs
* Defaults
* Mortgage arrears
* Loan arrears
* No proof of income
* Been refused credit in the past
* IVA's
* Bankruptcy
Why can Mortgage Saints help me find a mortgage or loan offer when other brokers can't?
At Mortgage Saints we can help people that have poor financial circumstances. Because we have access to the whole of the market, there are specific lenders we are able to use who have a different criterion to many of the big High Street names. These lenders are prepared to examine each case individually, assess the lending risk and offer a mortgage or loan deal based on that assessment.
The overall cost for comparison is 8.8% APR. The actual rate available will depend upon your circumstances. Ask for a personalised illustration.
I need a Self Certification mortgage - can you help?
We have access to a range of Self Certification mortgages and will find the most suitable mortgage deal for your circumstances.
The overall cost for comparison is 7.6% APR. The actual rate available will depend upon your circumstances. Ask for a personalised illustration.
How does a repayment mortgage work?
With a repayment mortgage, each time you make a monthly repayment, you pay off some of the capital you owe as well as some interest on the loan. This means at the end of the mortgage term, providing you have kept up your repayments in full throughout the term, your mortgage is paid off and you own your home outright.
What is an interest-only mortgage?
An interest-only mortgage means your monthly payments only pay the interest charged on the loan. The payments do not pay back any of the capital. This means you will need to arrange a savings or investment scheme in order to repay your mortgage at the end of the term. We cannot give advice on savings or investment schemes.
What is an early repayment charge (ERC)?
This is a charge made by the lender should you repay your mortgage early. The amount will depend on the terms and conditions of your mortgage and the size of the loan.
How long will my mortgage application take to complete?
At Mortgage Saints we aim to complete your mortgage application within 4 weeks, although, this can be longer depending on your circumstances.
Will I need life assurance?
Although life assurance is not a requirement of mortgage lenders, many people take this protection in order that their mortgage is repaid should they die, which could prevent loved ones from losing their family home. We can help you with this, ask our adviser at the time of application.
What is Payment Protection insurance?
Payment protection insurance offers a simple and effective way to protect your monthly mortgage payments in the event you are unable to work due to accident, sickness or unemployment. With this cover, you have peace of mind knowing your mortgage will be paid should you be unable to work.
Do I need Payment Protection?
It's not compulsory to have Payment Protection insurance, but it is the sensible option when you consider your home may be at risk if you cannot make the loan repayments. Payment Protection covers you in the event of an accident, sickness or redundancy. You will therefore have the peace of mind knowing your loan will be taken care of whatever life brings. Ask our adviser at the time of application.
How does the application process work?
When you call Mortgage Saints an adviser and case manager will help you complete the mortgage application and handle your case throughout the process.
You will know within 24 hours whether your application has been initially accepted and we will keep you informed at each stage.
Note that after underwriting an application could still be rejected.
What do I do next?
Call Mortgage Saints on 01189 677 429 for a free, no-obligation quote and start looking forward to feeling free.
How long does the loan take to arrange?
For secured loans the process can take between 10 and 21 days from application to completion. On loans up to £25,000, you have an 8-day consideration period before your agreement is posted to you to sign. Loans above £25,000 have no consideration period. In both cases, we often need a valuation to be carried out on your property. Once all the documents have been signed and returned, your loan will be submitted for pay out and you will receive your cheque. You will be kept updated with the progress of your application throughout.
Should I tell you about any arrears or credit problems?
Yes, because we have lenders who specialise in these circumstances and by telling us right from the start, your application will go through more quickly. We will always consider all circumstances so it makes sense to be open and honest from the beginning.
What happens if I settle the loan early?
If you pay off the loan early, depending on which lender is used, you will receive either a rebate or be charged an early repayment charge - for example, 1 months interest. A settlement figure can be obtained from your lender at any time.
What happens if I move home?
Some mortgages and loans can be transferred to your new home. This is known as Portable. However, this is subject to the lenders terms and conditions, equity available and your payment history. If you're moving, call us and we will be happy to advise you.
What happens if I change my mind?
If you decide not to go ahead with the loan, let us know. We will return all your paperwork to you and your file will be closed. It is always worth talking to us to discuss any concerns that you may have and we will do our best to work out a solution with you.
Your home may be repossessed if you do not keep up repayments on your mortgage
