Prior to 2008 adverse mortgages where readily available, some would allow CCJs of up to £50,000 others an unlimited number of CCJ, many would consider current arrears. In addition to the adverse credit status many of these lenders required very little proof of income many accepting self certification.
If you last remortgaged at this time, it would have been a shock to see that even if your position has improved from the position it was in pre. 2008, there are no mortgage lenders willing to look at your case even though your property may have increased over the last 7 years.
Fortunately the Second Charge Lenders are much more flexible; they will accept people with adverse credit ratings and also self certification of income.
While it may be more difficult to move, there is still scope to raise funds to possibly extend or renovate your existing property or clear existing credit arrangements with a reduced monthly payment.
We even have options where we can add second charge finance to Buy to Let properties. Selfcert
There are many low risk clients who are unable to obtain a mortgage having failed lenders automated decision systems.
We have established working relationships with a number of lenders enabling us to place business usually deemed to fall outside normal underwriting criteria.
Low credit score
Recently employed applicants
Self employed trading with a minimum of 12 months verified accounts
Income stretches to include bonus, overtime, and other declarable income
Non standard construction properties