These days everything we do in our financial lives can be recorded by the credit file companies.
If we take out a mortgage, personal loan, car finance, hire purchase, store card or overdraft, they will take note of every payment made on time, but also all missed payments. These negative marks on your credit file can seriously affect your chances of getting a mortgage from the high street.
The good news is that there is a good range of banks who are more flexible and don’t rely on their computers to decide who to lend to.
They might be a bit more expensive, though, and you generally need at least a 10% deposit to get a loan with these banks.
Some recent examples of customers we’ve helped get the mortgage they need;
Mr and Mrs S had found a house they wanted to buy but had been rejected by a few banks due to the following on their credit files;
• 4 x Outstanding County Court Judgements
• 4 x outstanding defaults
• 3 x satisfied defaults
I got them a loan of £104550 over 22 years at £598.37 per month fixed for 2 years
Mr A and Mrs B needed a bigger place and had an offer for their house, but were struggling to find a bank to give them a new mortgage to move on with; the problem they had was;
• 1 x unsatisfied default for £1500
• 3 x satisfied defaults still showing
• 1 x debt management plan still running
I found them a loan for £112500 over 20 years at £776.42 per month fixed for 2 years
Call me now on 0191 486 2627 or email me at firstname.lastname@example.org you would like to discuss your particular circumstances.