Normally in this scenario you should expect a higher than average interest rate to offset the increased “risk” to the lender, but even so with a competitive mortgage market it is possible those payments may remain affordable. If the worst should happen and there are no available options at this time we have a policy in the office at LionHart, we never say no, we say not yet. We’ll work with you over weeks, months or years to help get you to a position where we can secure you the mortgage you are looking for then if not now.
Late payments? Defaults? CCJ’s? IVA’s? Debt management plans? Repossession or bankruptcy? We’re all human, and lets be frank – life happens. It’s not always possible to have perfect credit, but the good news is it doesn’t mean you can’t get a mortgage.
There are lots of specialist lenders in the market who will help you where the traditional high street lenders may or may not. Regardless of which it’s important to talk to us in the first instance. We would need to understand the dates and amounts regarding any arrears (a credit report from Experian, Equifax or UK Credit Ratings is usually best for this), as well as the reasons, the account conduct since and the available deposit to make an initial assessment of potential options.
Important information
Your home may be repossessed if you do not keep up repayments on your mortgage.
There may be a fee for mortgage advice. The actual amount you pay will depend upon your circumstances. The fee is up to 1%, but a typical fee is £495.
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