Getting a Mortgage

Before you go any further read the following warning:

"YOUR HOME IS AT RISK IF YOU FAIL TO KEEP UP REPAYMENTS
ON A MORTGAGE OR OTHER LOAN SECURED ON IT".

There is a very good reason why lenders are forced to put this warning on mortgage adverts, and that is to highlight the danger of obtaining a mortgage or a loan secured on your house if you cannot afford it now or in the future.

Here we are dealing with mortgages only. You should have completed steps 1 and 2 of "Managing your finances" and be armed with the following:

  1. A written explanation of your credit problems and how they were resolved (or are to be resolved).
  2. A completed budget planner.
  3. Evidence of repayment of any CCJ's etc.
  4. Evidence of income (payslips etc).
  5. Evidence of identity. (e.g. driving licence, passport, utility bills).

Once you have established your budget our "mortgage calculator" will give you an idea of what you can afford to borrow.

Why borrow?

The main acceptable purposes for getting a mortgage are:

  1. To purchase a new home - past credit problems are settled.
  2. To remortgage your home - past credit problems are settled.
  3. To move to a cheaper home to reduce debts.
  4. To remortgage to pay off existing debts but only as part of a permanent solution (e.g. to fund an IVA).

The main reasons NOT to get a new mortgage are:

  1. To borrow more money while you cannot afford current debts.
  2. To invest in the stock market.
  3. To partially repay creditors without having a formal arrangement in place.
  4. To convert short terms loans into long term debt.

Choosing a mortgage

Our "Guide to Mortgages" gives you a pretty comprehensive explanation of how mortgages work. It's quite long so you may want to download it and read it offline.

This will help you choose what's best for you, although you may find the choice Available is restricted depending on the severity of your past/current credit problems.

Where to borrow

Points to be wary of and questions to ask the lender:

  1. Interest Rate Loading How long will it be for? Can it be removed after a period of good conduct?
  2. Redemption penalties How much will it cost to pay off or move house in the future?
  3. Up Front Fees Don't pay large up front, non-refundable fees. Fees should only be paid for a survey initially until your loan is agreed. Some lenders may have a small application fee.
  4. Late Payment Penalties Check whether any penalty interest or charges apply.

Don't get ripped off just because you have past credit problems.

Do you need help obtaining a mortgage?

Having received many requests for assistance, we have agreements with several reputable lenders who will consider loans to people with historic and current credit problems. Our lending partners are:

  • Skipton Building Society
  • Abbey National Plc
  • Cheltenham & Gloucester Plc
  • Chelsea Building Society
  • Bristol & West Plc
  • GMAC
  • First National Plc

How the service works

  1. Complete our online enquiry form and submit it to us.
  2. Our mortgage advisers will obtain the best 'in principle' agreement available for your circumstances.
  3. You will receive an illustration based on the agreement in principle plus a full application set.
  4. You can apply formally and have access to full telephone support and advice on your application.

Why use this service?

  • Because it is impartial
  • We only recommend reputable lenders
  • There are no broker fees to pay
  • You should receive a reply within 24 hours
  • You will not get ripped off
  • You will be under no obligation to accept the advice or mortgage offered

Click here to go to our Mortgage Enquiry Form

Your home is at risk if you fail to keep up repayments on a mortgage or other loan secured on it.

Debt consolidation is the process in which debt is restructured into one low affordable amount which you agree to pay.

If you want honest, free advice on how to get out of debt without a debt consolidation loan then CONTACT US NOW.