Has your application for a mortgage been rejected? Or do you suspect that a high street lender might turn your business away? Don't worry - you are not alone.
A growing number of people in the UK now fall outside the mainstream criteria for what constitutes a 'standard' mortgage borrower. Many people have less-than-perfect credit records, often through no fault of their own. Bankruptcy or divorce may have affected your finances for a while. Or a simple oversight such as missing a credit card payment may have left a blot on your credit record, which can lead to automatic rejection from a mainstream mortgage lender.
There are a high level of Britons that have been turned down by a mainstream mortgage lender. This is because not everyone fits the standard criteria lenders apply. But don't worry if you are one such customer - help is at hand.
Many people these days have a bad credit rating, often due to circumstances beyond their own control. You may have been declared bankrupt in the past or have fallen into arrears on a mortgage. Or you may simply have a CCJ (County Court Judgement) against your name, due to non-payment of a utility bill, for example. Such situations often arise due to divorce, or the collapse of a business.
The good news is that a full range of fixed, capped, discounts, trackers and flexible bad credit mortgages are available to you.
The overall cost for comparison is 8.8% APR. The actual rate available will depend upon your circumstances. Ask for a personalised illustration.
Mortgage Saints Ltd is an appointed representative of Home of Choice Ltd which is authorised and regulated by the Financial Services Authority.
Your home may be repossessed if you do not keep up repayments on your mortgage
