Any recommendations for which broker/company for previous poor credit remortgage

PanPen

Hi,

I've looked at the various brokers they mention in th guide on here, but seem to think I've read somewhere that people like L&C won't make any effort with those with questionable previous credits issues. 
I've looked at people like Simply Adverse etc but need some advice. Can anyone recommend a good broker who will work hard to help us please?

dunstonh

A local independent broker is usually the best option.

homefromhome69

apr money ltd were good for me - based in derby

ACG

Call up and speak to the companies. See how confident they come across. 
If you want to provide more details (type of adverse, dates, amounts), we might be able to give you an idea of whether you are looking at adverse rates or not. 

Some of our customers think they have terrible adverse and its only a small default or 2, I have also had customers with about 15 defaults who think its only minor because it is not bankruptcy or CCJs.

PanPen

I tried a local broker who we have worked with previously. He's eventually come back to me today saying we have been told by a small building society they do not wish to proceed due to affordability and how we would pay the mortgage off if one of us was made redundant, was ill or died!

 
House worth £575-580k
If remortgaging we would need £272k, if moving we would just like to know what we could borrow. 

Combined income basic £65k with an additional sum of overtime paid to husband of £7000 last year and around £1400 so far this tax year. 

My husband was previously in a job where his hours were massively cut down during COVID and I was furloughed for a long period.   So previously arrears went up to status 4. On changing jobs last year this has gradually been sorted out. His income is now double what he earned in the previous years. 
May - July 23 - Status 1
August 23- status 2 due to the payment actually hitting the account the following morning rather than on the day as normal for some reason) 
 Status 1 again September 23 -January 2024 
February 24 to current Status 0
I'm currently paying normal installment plus about £50pm which is spare as a way of showing we can pay more. 

No ccjs, IVA, bankruptcy 
No credit cards,loans or debts other than mortgage. 
No dependents.under 18
We are both in our early 50s
Currently paying 8.39% rate with a closed book mortgage company. 

ACG

The adverse I think can be overlooked by a good few lenders. Nothing defaulted, good explanation and time between the issue and now. 
Affordability is tight I think. I dont think you would be looking at a bigger mortgage or if you are probably not significantly so. 

I can only suggest trying another broker. I know the owner of Simply and I would say they have a good repuation and will do a good job. That being said, they are generally geared towards the more adverse lenders rather than the building societies. I feel like an adverse lender is potentially overkill for you guys. But I also think they will get you a result but it might cost you a little more.

PanPen

Thanks @ACG that is good to hear as we are a bit deflated by the recent rejection.We are happy to stay where we are and just remortgage so it would be less than 50% LTV. 

I won't give up yet then and maybe phone a couple of the companies listed in the guide on here.