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Re-mortgages for advers credit
lemons589
Posts: 2 Newbie
Hi, I was wondering if anyone knew of any lenders that will offer re-mortgages to people with adverse credit. In 2004 I took out a debt management plan with the CCCS, and have been sticking to it ever since. I have never been bankrupt, never had an IVA and I do not have any mortgage arrears. I am currently employed in a very secure job and can prove my earnings. I need to borrow approx 5 times my income and borrow upto 85% LTV, however, I am having difficulty obtaining a loan. Any help would be appreciated.
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Comments
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Who is your current lender?0
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5x income is high, as is your LTV - best to ask your current lender what they can offer you as a starting point.0
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Think your current lender is probably the only bet if the debt management plan is still in place as this affects your credit history. The arrangement to pay shows on the file.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. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
BM Solutions formerley Birmingham Midshires. They stated that they only lend upto 3 times your income, not sure what that is going to buy you? Looks like I will have to sell as is, and then pay off my debt so I'm not treated like a criminal anymore. Thanks anyway.0
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I doubt you'll find another lender that's happy to do 85% LTV with adverse with 5xsalary.0
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