Back in the dark ages it naturally followed that if you had adverse credit information registered against you such as arrears and defaults on unsecured loans, that a mortgage offer would only be forthcoming from a “sub prime” lender.

With competition fierce in the mortgage marketplace, many specialist lenders now do not consider payment profiles on unsecured loans or defaults. This coupled with the fact that many do not credit score, preferring to have a human being look at each application on a case by case basis means very competitive rates are available to those clients with adverse credit information registered against them. (Unfortunately mortgage/2nd charge arrears and CCjs, IVAs and bankruptcies are still considered).

Many of these lenders offer the facility to trade online with them speeding up the time taken to procure a mortgage offer; some even have the facility to generate an immediate offer with our solicitors geared to complete the mortgage within 7 days of receipt of the mortgage offer.

So whilst contemplating how to clear your existing debt isn’t it worth considering a remortgage, with funds being made available to you in 7 to 10 days from application?

Contact us for help with your financial cicumstances.