The
overall cost for comparison is 8.8% APR.* The actual rate available will
depend upon your circumstances. Ask for a personalised
illustration. APR variable and based on a usual case.
*This rate only applies to re-mortgage arrangements.
Our fee will depend on your circumstances, an indication
is £1995.
Early repayment charges will apply, they will vary depending
on the mortgage you choose.
Mortgage
Arrears
This describes the amount the borrower
is behind in their mortgage repayments schedule. The amount
is usually measured in months. If the arrears have occurred
in the last 12 months this will decrease your chances
of being successful in applying for a 'High Street' mortgage
or loan.
The lenders we use are specialised in this market and
therefore consider applications on an individual basis.
We have helped many people with minor or even severe credit
difficulties including pending repossessions, and enabled
them a 'Fresh Start' with their finances.
When the arrears have occurred in the last 12 months,
It is true, however, that the mortgage rate will generally
be higher than it would be otherwise.
Bankruptcy
A individual who, via a court proceeding,
is relieved from paying all debts once assets have been
surrendered to an appointed third party designated by
the court.
Whilst in bankruptcy you are not permitted to borrow money
via conventional sources. Even when you have been discharged
from bankruptcy it will still restrict your chances of
obtaining finance, in some cases for many years.
We have lenders that consider bankrupts once they have
been discharged. If there are cautions (I.a. ex-creditors
interests) registered against the property it may be possible
to clear these debts by way of a re-mortgage or a secured
loan. This will depend on the amount of equity in the
property and the amounts outstanding. Depending how long
you have been discharged, the mortgage rate will generally
be higher than it would be otherwise.
County Court
Judgement (CCJ)
This is an adverse ruling by a County
Court against a person, who has not settled their debt
payments, with their creditors. Once the ruling has taken
place, it will be recorded against the persons credit
history and will appear every time a credit search is
done until you have it removed. The CCJ will no longer
show on the Credit File after a period of 6-years. Also
paying the debt within 28 days of the ruling should automatically
remove it from the file.
Payment
Defaults
Failure of an individual to make
payments on a credit facility at the correct time or to
not complying with the lender's requirements. CCJ's &
Payment Defaults will not stop you getting a Mortgage
or Loan. It is generally accepted, that if a person has
a Payment Default or County Court Judgement against them
it will have to be satisfied before they can get a mortgage
or loan. This is not strictly true, as there are some
lenders that specialise in providing mortgages and loans
to those with varying degrees of adverse credit, including
CCJ's. It is true, however, that the mortgage rate will
generally be higher than it would be otherwise.
How
can you repair your credit?
Just as a poor credit rating can
be developed through your actions, so can a good credit
rating.
In fact, even if you were previously bankrupt or owed
thousands of pounds you couldn't pay back there is still
hope for you.
All you need to do is show that you have changed or that
the behaviour that got you into trouble was not typical
behaviour for you. And the way to do that is to rebuild
your credit profile.
To start rebuilding your credit all you need to do is
manage your bank account, mortgage, credit cards and loans
perfectly. Never miss a payment, never be late.
That means don't take on more than you can manage in the
first place.
Once you have done this for a year or so you will start
to look like a more attractive borrower and may even be
able to move back to a mainstream mortgage company to
enjoy lower rates. If you keep it up then your credit
rating will eventually become acceptable to lenders',
but this can take up to 6 years.
Please Note
THINK CAREFULLY
BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED
IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.
Remortgagetoday.com - is a trading style of Bluerock Finance
Remortgage-today.com
is a trading style of Blue
Rock Finance - Authorised and regulated by the Financial Services
Authority - Number 300109
Welcome to Remortgage-today.com - is a trading style of Bluerock Finance Ltd
