Help, Need a mortgage but have bad credit...

MortgageMamma

There are loads of brokers across the country you could use, have a think about if you would rather see someone face to face (could take a while to get appointment this way) or if you are happy to take your advice over the telephone/email. I'm sorry I don't know anyone in warwickshire - but someone on here might be able to help - avoid a company called London and Country - they will only offer advice and get you an agreement in principle once you have secured the property you wish to buy - perhaps a smaller firm will be able to offer you all the personal attention you will need

UK007BullDog

The Chelsea take on people with a default a year back and their rates are not too bad. Dont know about your working history though, it might be too short.

MortgageMamma

chelsea do not have a minimum employment period, but they only go up to 3.75 income on 90% ltv so won't be appropriate in this instance

kenshaz

MortgageMamma wrote:

There are loads of brokers across the country you could use, have a think about if you would rather see someone face to face (could take a while to get appointment this way) or if you are happy to take your advice over the telephone/email. I'm sorry I don't know anyone in warwickshire - but someone on here might be able to help - avoid a company called London and Country - they will only offer advice and get you an agreement in principle once you have secured the property you wish to buy - perhaps a smaller firm will be able to offer you all the personal attention you will need

Why are you advising posts to avoid L&C,have you personal or professional reasons ,is it commercial or competition?Why are small companies preferable?
Larger companies like L&C have solid reputations ,offer a good service,what gives you the right to steer posts away from such companies.
Some brokers attempt to gain business through this site ,and it is in the original posters interest to use a larger broker,in the mortgage broker world, bigger is often better,as big brokers have more influence and research resources and more solid reputations.
Martin does not endorse those who post on this site .
Why are you stating that a broker on this site could help the original poster in preference to L&C,how can the poster be sure of those who post ,this is a public forum,with no credentials or reputations to join.

kenshaz

Mortgages: Sneakily get the best advice for free plus possible extra cashback Have a look at this link it is an article written by Martin ,you might have read it OK,if not it will help you.

kenshaz

It’s an open forum! Anyone can post so always exercise caution when acting on info. This is advice given by Martin.

Rusco

Hi Crawfy,

I was in similar circumstances recently, I have 1 settled default just over 1 year satisfied. I bank with the Abbey but they would not touch me, ended up with Platform Funding with a good rate.

Good luck

jamesd

kenshaz, L&C do not do agreements in principle so they are always the wrong choice for someone who has not yet selected a property and has doubts about their ability to secure a mortgage for credit reasons. The AIP is the way to go to be more sure that a mortgage will be offered. Also desirable is a broker who will take credit reports the consumer has requested themselves, to avoid creating extra search records and this disfavors larger companies who are less likely to do so.

Brokers who post here are still required by the regulations to identify themselves in the same initial disclosure document as any other broker when it comes to accepting business. That can be checked with the FSA register.

One advantage of brokers who post here is that their reputations here are at risk if there is a problem involving a customer they acquire from here.

Please try to customise your suggestions for the question and situation of the person posting the question.