Problems/Declined Mortgages - Blackpool, Lancashire
Given the number of lenders now providing mortgages for those who have suffered impaired credit, rates are now better and more competitive with greater choice and flexibility.
What is Impaired Lending?
In general terms, if you have experienced one of the following:-
* Credit Card Debt
* Arrears with Loan repayment
* Arrears with Rent repayment
* Arrears with Mortgage repayment
* Individual Voluntary Arrangements (IVA)
* Trust Deeds
* Bankruptcy
* CCJ'S Defaults, Sheriff Court Judgement
* Arrears with organised Credit Facilities
Mortgages are available for customers who have experienced credit difficulty in the past, lenders will provide funding based on individual cases, each case will be assessed on its own merit, and this will determine what deposit is required and what interest rate will be provided.
In some cases 95% lending can be achieved, however typically 85% to 90% lending is average, although this is dependent on your credit rating.
The overall cost for comparison is 6.6% APR. The actual rate available will depend upon your circumstances. Ask for a personalised illustration.
Mortgage Search 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 re-payments on your mortgage. |
