Mortgages, Refinancing and Loans with Bad Credit up to 85%, Sick of being told No!

How to get a Mortgage, Home Loan or Refinance up to 85% with Bad Credit. Are you just looking for a second chance?

You are looking to get a  mortgage to buy a new home or to refinance and you have bad credit. For some this is a total surprise and for others they are fully aware of it, but it could not be helped, as the bad credit was the result of a business failure, unemployment, a separation or a critical illness or accident in the family.

Over the years we have helped so many clients get loans who have had a glitch with bad credit or poor repayment history. What we have found is that it is best to lay all the cards on the table and look at how we can resolve the situation. This may mean that a Non Bank loan has to be arranged to repay or refinance all the outstanding debts so you can start afresh. Refinancing and consolidating debts is a great way to put all your bad credit problems in one basket, so you can then focus on paying them off as fast as possible.

At times it is best to contact the people that you owe money to and offer a full and final settlement. We can help with this and significant discounts have been arranged. Would you like to contact us now?

Now bad credit issues do have varying degrees of seriousness with lenders. Once upon a time an unpaid TV licence was a common occurrence, this was not of any major concern to a lender. Now we often see collections relating to Gym memberships, these too are not a major. What is a concern though, is a regular pattern, where you are not paying your doctor, solicitor, credit cards, car loans etc.

But, the good news is that if you have at least 15% equity in your property, or as a deposit, there are now options to buy and refinance available, right up to 85%, even in these difficult times when bad  credit is becoming more and more common, but there are only a few lenders in the market. Often these lenders are known as "Bad Credit", "Non-Bank" or  "Sub Prime" as they consider and often approve the loans that the mainstream banks do not regard as their "prime" business. Whilst 15% would be the minimum deposit or equity with an 85% loan, this can increase significantly to even to say 50% depending on the type of property, location and how bad your creidt history is. Bare land, run down, incomplete and remote properties are examples where a loan as high as 85% would not be available. Unsure if your property would be suitable just ask us!

Ex or Discharged Bankrupt or NAP? We are currently receiving an increased number of enquiries from clients who were made bankrupt, but are now discharged. Ex Bankrupts are looking to start again with a home , business or commercial property purchase. These bankruptcies are often the result of the Global Credit Crisis. We have helped a number of people, but the key requirement for success is a solid lending proposal as all lenders will be cautious. 

The first action you need to take when looking for a bad credit loan  is to write a list of all your bills and credit issues outstanding. Honesty is really important here, if you are looking for a second chance and to refinance let’s do the job properly. The next thing to do is write down an explanation on why things went wrong and what you can do better in the future, so that you do in fact start on a new path. We might be able to give you some good ideas on this. This is especialy important for an ex bankrupt as a prospective lender will want to have an idea of how much and who had to write of loans or invoices. Lenders have long memories and what they can't remember they google, never try to hide anything!

So if you need to buy a commercial property or a residential home loan with  bad credit history, either to refinance, consolidate or to buy a new home contact us now, we are always prepared to listen!

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