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Adverse mortgages right to buy
Mummy007
Posts: 37 Forumite
Any one know who are still doing Adverse mortgages right to buy
Thanks
Thanks
0
Comments
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It depends on the adverse.
A 5 year old satisfied default, you will probably get normal rates. A 5 month old default and probably not.
There are a couple of lenders out there, but I have heard that there are one or 2 lenders who do adverse that will be launching RTB products at some point this year, probably the first half of the year.I am a Mortgage AdviserYou 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.1 -
Not satisfied Defaults will be 6 years old September, 20210
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Can you not wait until September?
You will stand a better chance of being accepted normal rates.I am a Mortgage AdviserYou 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.1 -
Its only a mortgage of £25,000 just want to get it underway asap, hope to have payed in five years. Its just finding RTB adverse at the moment
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The £25k will probably be an issue also. Many of the more specialist lenders have minimum loan amounts of £50-75k.
It is probably worth speaking to a broker or maybe an unsecured loan? I am not sure if you can use an unsecured loan for the purposes of buying a home but it might be an option and could even be cheaper than some of the mortgages you may be looking at now.I am a Mortgage AdviserYou 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.1
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