"Near High Street Rates"

Ikaris_the_Eternal

I see a lot of posts on here from people with minor/adverse credit on the file and you brokers often allude to products/lenders which although not high street are quite close from a rate perspective.

Is this the Aldermore's of the world or are there intermediary only products which are slightly higher than "high street" out there?

kingstreet

Are you asking if there are high street lenders who have special broker near-prime products?

No. High street lenders will lend at their normal rates, or won't lend.

For "near-prime" you are looking at specialist lenders like Aldermore or some of the smaller building societies.

TBH it depends on the individual case and an analysis of the issues. We've got stuff away in the last couple of years with blips and it's gone to high street or smaller building societies. We've done nothing with Aldermore or similar.

Ikaris_the_Eternal

Thanks.

The "smaller building societies" answered my query. I was curious as to which lenders fell in between high street and the precise/aldermores out there

amnblog

In the current market adverse credit borrowers have little to fear regarding rate.

Ikaris_the_Eternal

What do you mean? That adverse credit lenders are quite competitive?

amnblog

Adverse rates are affordable in most cases

ACG

Aldermore are one of the lenders I have in mind when saying that.
There are others who only deal with intermediaries and as kingstreet says smaller building societies.

I think as amn says, the rates those lenders charge should not really be a major concern, if they are then I think those people need to consider whether a mortgage is for them. Rates are only going to go up and the 5-6% rates are not high, they were normal not all that long ago and probably some people are still on those sort of fixed rates from before the crash, I remember my first mortgage (and im "only" 30) was about 4.99% and that was without any adverse.