There
may be a fee for mortgage advice. The precise amount
of the fee will depend upon your circumstances but
we estimate that it will be £295.00
The following APR relates to
First Time Buyers, Adverse Credit and Self Certification
only.
The
overall cost for comparison is 7.5% APR. The actual
rate available will depend upon your circumstances.
Ask for a personalised illustration
THINK
CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR
HOME.
YOUR
HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS
ON A MORTGAGE OR OTHER DEBTS SECURED ON IT
The
following APR requirement is also triggered by:
Non Confirming Mortgage
Bad Credit
Subprime Mortgage
Non Standard Subprime
Mortgage Arrears
CCJ'S
If
you are unable to take a 'prime' mortgage (mortgage
with no arrears or ccj's etc) with a mainstream lender
due to credit problems, then do not panic as there
may be help to be found. Many people are in your situation
because they do not fit normal lending criteria. However,
there is a solution you can take Adverse Credit Mortgage
(sometimes known as a non-conforming mortgage, bad
credit or subprime mortgage) until you are back on
track.
What
is categorised as subprime or non-conforming?
'Non-standard subprime' borrowers fit a wide
range of categories: You may have a bad credit history,
mortgage arrears, County Court Judgements (CCJ's),
you may not have a bank account, have moved around
a lot etc. Because you do not fit the normal criteria
you will be considered a higher risk, which means
in turn that the interest rates charged for subprime
mortgages will be generally higher than normal rates.
Will I always need a subprime mortgage?
You will be able to return to the mainstream
mortgage market by organising a bad credit remortgage,
in which case you will be back on track with a new
mortgage at a lower interest rate.
Where can I get subprime advice?
At G Force Mortgages Limited, we can offer expert
advice for non-conforming borrowers, which can be
a big help when trying to take the first step towards
reorganising your finances.
