subprime mortgage

smnb08

are there any other subprime lenders left other than these..
Accord
Beacon
First nation
Bm solutions
Platform.
many thanks for any help.

Mr_Angry_6

Isn't the Chelsea BS sub-prime?

happybroker

I was just wondering how you had gone on but I'm guessing from this thread not so good.

what loan to value are you looking at?

Conrad

There are some other small specialist lenders to which a very few brokers have access, but the rates are high and the maximum loan to value 75%

smnb08

we have not had a decline from beacon as yet.
my broker is faxing over my bank and mortgage statements today for them to review and state whether the late payments will present a problem.
i am convinced they will say yes though.
she has tried all the other lenders and i asked her to try first national but they would only lend us £78,000 and we are looking to borrow £94,000.
at £94000 the ltv is 75%

smnb08

Conrad wrote: »

There are some other small specialist lenders to which a very few brokers have access, but the rates are high and the maximum loan to value 75%

how high?
my current rate is 10.9 but with the remortgage of £94,000 we would be able to pay everything else off and be able to pay the mortgage with no problem.

Toughluck

Oh smnb08,

I read your posts with upmost interest as you seem to be ping-ponging from pillar to post. You have nearly exhausted the sub-prime lenders in the UK. Chelsea is not an option as 70% is the max they will do on prospect adverse if the missed payment is within 6 months and you are with a sub prime lender they will not do it.

MBS lending another lender. they are funny on lending in certain postcodes, especially in London! Accord beought out new rates yesterday. Can you still not go there?

Has you advisor tries the abbey yet? 75% and under they will refer adverse and dependant on the strength of the case they will sometimes let adverse thru. i have just got a £15K CCJ last year completed through the Abbey. Also Mr & Mrs x with 3 missed payments has just gone to offer through the abbey. under 75% is paramount, go over that and the underwriters will decline it outright.

happybroker

Money partners ares till operating but the rates are pretty much what you are paying now

rab_cilbup

I managed to get a deal from Abbey - expected to have to go Sub Prime as I have a less than spotless recent credit history, lots of missed payments and arrears on my plastic, but it's gone through.

sazzy6

What is a sub prime lender?

happybroker

sazzy6 wrote: »

What is a sub prime lender?

lenders who specialise in lending to people with adverse credit profiles