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Lendgo - bad credit mortgages - anyone know about them?
BigC+WeeS
Posts: 20 Forumite
Just a question out of curiosity - I've seen this site advertising on Google... does anyone here know anything about them, as they seem to be claiming to be able to get even folk with poor credit ratings a good mortgage. Ther emuct be a catch somewhere surely if most people are struggling to get a good deal at the moment. Their website shows an example of a £200,000 mortgage "FROM" £789 a month. Now given my current NR deal is £168,000 at 5.49% fixed 5 years ago was costing £1059 a month - how on earth do they get those figures? Is it something llike a 40 or 50 year mortgage? Just doesn't seem possible to me
Debt problems? It's never too late to get help - just ask the friendly folk on this forum! :grouphug:
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Their website shows an example of a £200,000 mortgage "FROM" £789 a month.
that works out at 4.73%.
If they can do that for people with credit problems, I dread to think what they can offer a squeaky clean client :eek: :rolleyes:I am a Mortgage adviserYou should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
If it looks too good to be true.............0
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Its a pile of sh*t. It is a draw onto their enquiry line and you'll end up going to GE "crooks" Money.I am a Mortgage Adviser
You should note that this site doesn't check my status as a mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Take advice with a pinch of sea salt!0 -
I agree, You get 'nowt for nowt' in this world.
There is a catch they will probably ask you to put a fair amount down for your deposit.
I knew of one company who used to take (backhanders) of about 3,000 to get you a mortgage not a legitimate one but a mortgage.
One broker had friends in different companies who would take a (backhander)
And these were people at high st banks etc.
So my answer is be careful, They may get you a mortgage but it would cost you money.
Best Of Luck.Thomson 757 Man0 -
BYALPHAINDIA wrote: »I agree, You get 'nowt for nowt' in this world.
There is a catch they will probably ask you to put a fair amount down for your deposit.
I knew of one company who used to take (backhanders) of about 3,000 to get you a mortgage not a legitimate one but a mortgage.
One broker had friends in different companies who would take a (backhander)
And these were people at high st banks etc.
So my answer is be careful, They may get you a mortgage but it would cost you money.
Best Of Luck.
Yes, I know brokers involved in these murky areas too.
The bit I could never get my head round is why a broker would risk prison for £3000 ?
Broker I know went to jail for six months for mortgage fraud.
He's now out again, doing exactly the same thing, but in someone elses' name :eek:I am a Mortgage adviserYou should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
Thanks for all your replies folks, I won't be touching with anyone else's bargepole, never mind my own!Debt problems? It's never too late to get help - just ask the friendly folk on this forum! :grouphug:0
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