The Adverse Mortgage Building Society
Building societies have a friendly and approachable image and so you might want an adverse mortgage building society if you are looking for an adverse credit mortgage loan. And there are several adverse mortgage building society lenders to choose from. Not all of them lend directly. For example, UCB Home Loans handles specialist loans for Nationwide Building Society and Coventry does its adverse mortgage building society lending through BM Solutions.
Just like any other adverse mortgage lender an adverse mortgage building society will lend to people who have had financial difficulty. This includes individual voluntary arrangements (IVAs), bankruptcy, County Court Judgements (CCJs), arrears and defaults. Whatever the circumstances you can find an adverse mortgage building society that is prepared to handle them. Here’s an example of the deals you can expect from an adverse mortgage building society.
Our first adverse mortgage building society is Nationwide subsidiary UCB Home Loans. This mortgage lender specialises in self certification cases, which many people with adverse credit need. This adverse mortgage building society subsidiary has a range of flexible fixed rate and tracker deals. Arrangement fees are charged for all self certification mortgages. There are generally two, three and five year flexible fixed rate deals from this adverse mortgage building society allow overpayments, borrow back facilities, underpayments and payment holidays and are available up to 85 per cent loan to value. This loan to value figure is expected to drop very shortly and we would suggest you call our deal hotline for all the current rates and criteria.
There are also two, three and five year tracker deals with no extended tie ins from this adverse mortgage building society lender. There is a free valuation and early repayment charges of three per cent apply during the initial rate period. These are usually available up to 85 per cent loan to value. The flexible tracker deals from this adverse mortgage building society subsidiary allow overpayments, underpayments, payment holidays and borrow back and have an early repayment charge of three per cent during the initial period.
The mortgage products from adverse mortgage building society Birmingham Midshires (Birmingham Midshires is no longer a building society) are designed for the full range of adverse credit circumstances. This adverse mortgage building society divides the products according to the value of the CCJs held by the applicant, with amounts between £500 and £3,500 accepted for the fixed rate deals and unlimited CCJs accepted on the tracker deals. Fixed rates are offered usually at a couple of percentage points above the Bank of England base rate and this building society applies early repayment charges on a sliding scale during the two or three year fixed rate period. This is also true of the tracker deals from this adverse mortgage building society, with arrangement fees being charged on the adverse mortgage deals.
These are just two examples of the bad credit mortgage building society deals that are available to those with impaired credit. There are quite a few building societies and some of those may offer bad credit mortgage deals, so shop around when you’re ready to find an adverse mortgage building society.