Good mortgage advice please !!!!

kazz411

At present we have a mortgage with GE money, we have had bad credit history in the past, through a ccj that was paid off 3 years ago but we understand that it stays on your file for 6 years ! Because of this getting a mortgage is proving very difficult. We have no choice but to move as our home is in a re-generation area that is due to be demolished so the local authority want our home, supposed to be at market value but thats another story... We will have a 25% deposit to put down but getting a mortgage is proving to be a nightmare. Our current mortgage company will not port our existing one over but will give us a new mortgage at a higher rate of interest, extortionate set up fees and only through a financial broker !!!! Can anyone help name any lenders that i could try myself ? Any suggestions ??

GMS

kazz411 wrote: »

At present we have a mortgage with GE money, we have had bad credit history in the past, through a ccj that was paid off 3 years ago but we understand that it stays on your file for 6 years ! Because of this getting a mortgage is proving very difficult. We have no choice but to move as our home is in a re-generation area that is due to be demolished so the local authority want our home, supposed to be at market value but thats another story... We will have a 25% deposit to put down but getting a mortgage is proving to be a nightmare. Our current mortgage company will not port our existing one over but will give us a new mortgage at a higher rate of interest, extortionate set up fees and only through a financial broker !!!! Can anyone help name any lenders that i could try myself ? Any suggestions ??

It will depend on your circumstances, impossibel to say without a lot more information.

There could be lenders for you. Lenders are there who will lend to people with historical bad credit, depending on how much and when.

Best to speak to a 'Whole of Market' broker

kazz411

I have sort advice from a broker that is supposed to be "whole of the market" and it was he who came back with the same lender as we have now but on a higher rate ! So is he whole market ? or not.

GMS

He may well be whole of market. His status should be disclosed in the Initial Disclosure Document.

GE are back in the market but are pricing for risk these days as opposed to pricing to get business as they all were a few years back.

Like I say, without knowing your circumstances it is difficult to say. A short phone call would be all a broker needs to see what is possible.