Many clients come to us worried that having a Poor Credit profile may prevent them from obtaining a mortgage.
In todays very competitive market place having a Poor Credit profile may restrict your choices of lenders, where the High Street lenders who base their decision to lend on credit scoring is totally different from the Specialist lenders who have a manual underwrite backed up by an internal credit sore to determine which level of product would be appropriate, ( currently there can be up to eight levels on any mortgage product ). On the assumption that the high street lenders have said no, we then begin to research the lenders who will accept a level of Poor Credit, and the Credit File ( Experian or Equifax ) will point us in the direction of which lenders would accept the credit profile and what terms may apply.
In today’s mortgage market the gap between the High Street lenders and the Specialist lenders has narrowed and it maybe a pleasant surprize to see the terms that maybe available to you despite not having a clean credit profile. If you are not sure where you sit in today’s market then please call us on 03452 605506 or 07867 794837 and we will guide you to the most competitive terms in todays mortgage market place.