CCJs And The UK Bad Credit Home Mortgage
These days it’s easy to rack up a few CCJs, which is why the UK bad credit home mortgage is coming into its own. If you have had some trouble making payments and have had County Court Judgements issued against you then you might need a UK bad credit home mortgage. What you need to know is what deals are available for people with bad credit. To help you decide here are some examples of the deals offered by UK bad credit home mortgage providers. There’s sure to be one that matches your circumstances.
Most specialised lenders offer a two year UK bad credit home mortgage. This UK bad credit home mortgage can be available up to 95 per cent loan to value subject to your credit score. Remortgage customers who are seeking money for school fees, home improvements, to buy a car, have a holiday, settle a divorce or consolidate debts can also borrow up to this loan to value ratio. The minimum term for this UK bad credit home mortgage is generally 5 years. This mortgage is also available to self employed applicants. Lenders will differ with the amount and size of CCJs they will accept for this UK bad credit home mortgage deal. Mortgage arrears are generally not acceptable unless at least 12 months have passed. Arrangement fees for this bad credit mortgage differ from lender to lender and will either be a percentage of the loan amount or a fixed amount.
It is possible to get a UK bad credit home mortgage with a discounted rate for a number of months / years. These types of deals are generally available up to 80 per cent loan to value and early repayment charges usually apply to this UK bad credit home mortgage. It is available to self employed applicants. Again CCJs and mortgage arrears may be acceptable subject to the deals available at such time and the individual lenders criteria. For this reason we suggest you contact us to discuss your individual situation.
Leeds Bad Credit Home Mortgage
Lenders usually offer a fixed rate UK bad credit home mortgage that is fixed for a set period of time into the future, for example two years. This bad credit home mortgage is available up to 75 per cent loan to value with a minimum loan term of five years however now and again we have lenders that will lend above 75%.
These bad credit home mortgage deals will generally revert to the lenders Standard Variable Rate (SVR) at the end of the fixed rate period and each lenders SVR will differ so it is worth exploring the cost at the end of each mortgage deal as the cheapest isnt always the best.
The UK bad credit home mortgage deals listed above are just a few examples of what lenders provide. To get the best deals, you will need to take professional advice so you can get a UK bad credit home mortgage which truly meets your needs.
