Bad Credit Rating Mortgage LendersPoor creditworthiness Mortgage lenders
With Experian, can I take out a mortgage?
With Experian, can I take out a mortgage? Creditxpert says that my credit is "bad", how will that impact my chance of getting a mortgage? Mortgages lenders favor instability because they allow them to make a rational choice on the basis of the probability that you will repay the debts.
It is not every borrower who can pay the interest rate of Santander, Halifax, Nationwide and HSBC, so he must win his deal through a more casual way of writing. Surely a good mortgage agent like Niche Advice will be able to look at your credit reports and choose the borrower who will most likely be offering you a mortgage.
Again, it is these fine distinctions, with the help of a professional mortgage broker, that can be used to your benefit. Thus what are other major considerations you need to consider in order to get ahead of the application for a mortgage: And the smaller and older the problem is, the better your odds are.
Similarly, if the issue has been addressed and updated, the greater the level of toleration there will be from the new mortgage bank, as they will appreciate that you will eventually settle your debt. It' s common for spending over six years to drop from your credit history, but that doesn't always give you the go-ahead, as lenders can ask for detail on all historical credit questions in their claim form and you are required to disclose full information.
See some of the other items on this site for more information on mortgage loans for clients with poor credit ratings. Are you an ex-pat or a foreigner who has not been in the UK for a long time, you may be suffering from poor creditworthiness as you may not have credit here.
Use a credit cards and make small payments (set up a credit note every month to settle the entire balance). Talk to a reputable and independant mortgage broker. Mr Azadi is a Business Associate with Niche Advice Ltd, an London-based financial and mortgage advisor. The Payam Azadi partnership is with Niche Advice, which operates throughout the London based wholesale brokerage group.