hello!!poor credit mortgage holders look here!

emszii

After spending the last week looking around the web at my mortgage options...(and i dont have many as i have bad credit) i was wondering what people make of GMAC OR MORTGAGES PLC AS A LENDER, and has anyone here been able to get a mortgage through them even with a bad credit report? By bad credit I mean unsatisfied defaults, maybe CCJ'S? any info would be greatly appreciated, and if know of anyone I'd love to hear about them too!

Cheers:o Emma

mancitychick

My Mum had a mortgage with them. She did not have a bad credit file, just didn't earn enough to get a 'regular' mortgage. Since then her wages has more than doubled so she has just remortgaged with Nationwide.

She was tied into GMAC for 3 years but it was not a fixed rate mortgage, she says they are ok but obviously alot more expensive. For example she was paying £650 per month to them and will now be paying nationwide £460 per month and she has borrowed an extra 10k from N/wide.

She would use them again if they were her only option but thankfully for her now she is able to get a 'regular' mortgage.

MortgageMamma

Hi Emma

Both good mortgage companies in their own right, but the products vary massively.

emszii

hey mancitychick cheers just wondering if anyone has been with them for poor credit tho....

emszii

cheers lisa

MortgageMamma

No problem Em.

Good luck with finding a property

L x:p

emszii

so anyone know anything?

maka_2

myself and my partner have a mortgage with GMAC and we dont have the best credit in the world, we have had no problems with them we are on a 2yr fixed rate. we will be changing after the 2 years to try and get our payments down

Dammam

I got a bad credit mortgage through I-Group, which is now a GE company. 2 CCJs and a few defaults. The rate doesn't seem particularly bad to be honest.

emszii

maka wrote:

myself and my partner have a mortgage with GMAC and we dont have the best credit in the world, we have had no problems with them we are on a 2yr fixed rate. we will be changing after the 2 years to try and get our payments down

I got a bad credit mortgage through I-Group, which is now a GE company. 2 CCJs and a few defaults. The rate doesn't seem particularly bad to be honest.

so how bad were your ratings if you dont mind me askin
I have defaults amounting to about £3k and my partner has default from upto 6 years ago amounting in 10k from being a student, im just trying to gage if they'll lend to us, and wether we would fall into near prime or light non conforming category

maka_2

just one question

do you have a deposit?