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poor credit mortgage
LANA_3
Posts: 1 Newbie
I've got a low credit rating and was looking for a 100% mortgage - most places turned me down but I've now been offered a 102% mortgage through a broker at a rate of 6.29% - is this a rip off?
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Comments
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If it's the only lender willing to table the risk then it's not a rip off.0
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Who's the lender M8, can you PM me the details please.0
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I know who the lender is, it is northern rock, and they generally dont lend to people with "poor" credit ratings. Please make sure your broker has got an agreement in principle from northern rock before you part with any fee's or sign a fee agreement. If you have CCJ's, defaults or bancruptcy NR won't touch you, and they are also pretty strict on missed payments.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 -
Well done you. Northern Rock turned me down for a 100% mortgage. I'm now trying to save up for the 5% depositI've lost over 100lbs in two years, I can be debt free too.0
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