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Adverse mortgages right to buy

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Any one know who are still doing Adverse mortgages right to buy
Thanks
 

Replies

  • ACGACG Forumite
    21.4K posts
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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 Adviser
    You 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.
  • Mummy007Mummy007 Forumite
    27 posts
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    Not satisfied Defaults will be 6 years old September, 2021 
  • ACGACG Forumite
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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 Adviser
    You 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.
  • Mummy007Mummy007 Forumite
    27 posts
    Third Anniversary 10 Posts Name Dropper
    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
     
  • ACGACG Forumite
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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 Adviser
    You 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.
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