Adverse Credit Mortgage
An Adverse Credit Remortgage is the process of paying-off one mortgage, from the proceeds of a new mortgage (i.e. remortgage), using the same property as security, even if you have adverse credit difficulties
An adverse credit remortgage may be just the right solution for you! The benefits of an adverse credit remortgage include saving money by having a fixed rate remortgage or discount remortgage rate, debt consolidation on existing credit or raising cash for home improvements, a new car, business etc., or a combination of any of these benefits - even with adverse credit problems.It is also very important to consider the implications of an adverse credit remortgage. Firstly, this will place your home at risk if you are unable to keep up repayments on your mortgage. Secondly, you should also be aware of the costs involved with a home remortgage, and you should weigh-up these costs, such as a property valuation on your home, legal costs and fees; against the overall costs if you were to take no action.
Adverse Credit Solutions
Mayfair Consulting can help. An adverse credit history need not prevent you from obtaining a mortgage or re-mortgage.
There are a number of lenders who specialise in providing adverse credit mortgages as well as adverse credit re-mortgages for people with a less than perfect credit history who want to re-mortgage their property to raise additional capital for any purpose. Lenders such as Gmac, Kensington, Birmingham Midshires all offer mayfair
From the whole of Market, Mayfair Consulting will find the best option to provide you with a mortgage or re-mortgage at reasonable rates and on acceptable terms. So contact us today or fill in our online MForm now to find out how Mayfair Consulting can help with that adverse credit mortgage.
Most adverse credit mortgages will expect a 10% deposit, although a few will accept 5%. You will also be subject to redemption penalties, but these should not be for longer than three years.
Think carefully before securing other debts against your home.
Your home may be repossessed if you do not keep up repayments on your mortgage.
The overall cost for comparison is 7.1% APR. The actual rate available will depend upon your circumstances. Ask for a personalised illustration. There may be a fee for the mortgage advice. The precise amount will depend on your circumstances, but we estimate it will be 1.5% of the loan amount with a minimum fee of £500 added on to the loan.
Mayfair Consulting Limited is an Appointed Representative of The Mortgage Times Group Limited, 279 Tottenham Court Road, London , W1T 7RJ , which is authorised and regulated by the Financial Services Authority no. 303007.
