Credit Repair

We aim to adopt a sympathetic approach to any borrower or potential borrower who has an adverse credit history, particularly those that are experiencing mortgage arrears, county court judgements, defaults and even bankruptcy or repossession.

In line with F.S.A. guidelines we will take additional care in assessing such cases and allow the customer sufficient time to assess our proposals and the likely impact on their budget and general finances, etc. We would then usually proceed to place the mortgage with a specialist lender who can accommodate their circumstances.

Lenders that accommodate poor credit history generally have higher charges and the monthly payments will be higher than if the mortgage is obtained from regular lenders. In addition we charge a higher broker fee due to the greatly increased level of work associated with placing and processing these mortgages.
We would ask you to look at the information provided under SERVICES, etc in relation to this type of business.

If we can assist you with the mortgage, taking account of your specific circumstances, we shall maintain a regular contact with you. The purpose of this exercise is to enable us to assess at which point we can switch you to a regular lender, usually with a significantly lower interest rate. This can be considered from 6 months onwards but is more likely to be 12 to 18 months after taking out the original mortgage.

The success of this process depends upon your maintaining a clear credit history and mortgage payments so that we may approach the new lender with a credit history that has not deteriorated. There will almost certainly be a reasonably large exit penalty from your existing lender, known as early repayment charges, and this must be taken into consideration together with the cost of changing mortgage lenders. In most cases it can be demonstrated that the exercise is cost effective and reduces your monthly mortgage payments although the size of the debt is likely to increase by the amount of early repayment charges if you are not in a position to pay this up front.

We welcome enquiries from anyone who feels their credit history requires special treatment and our initial advice is free and without obligation. Our experience in placing these mortgages ensures a high success rate as we are usually able to offer a solution to your problems.