Haysto

PM22
PM22 Posts: 277 Forumite
Third Anniversary 100 Posts Photogenic Name Dropper
in Mortgages & endowments
Has anyone used Haysto Mortgage brokers? They specialise in bad credit mortgages...

Looking for success stories as I'm about to submit an application today.

I have 8 defaults on my credit file but they think they can help...

I will be charged 6.14% OR £854  a month

Fingers crossed for me 

Has anyone got a bad credit mortgage or is it a scam?
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Comments

  • Jemma01
    Jemma01 Posts: 386 Forumite
    Fourth Anniversary 100 Posts Name Dropper
    or what is scam? The company?
    it seems to have high rating in Trustpilot with 1,813 reviews
    Note:
    I'm FTB, not an expert, all my comments are from personal experience and not a professional advice.
    Mortgage debt start date = 25/10/2024 = 175k (5.44% interest rate, 20 year term)
    Q4/2024 = 139.3k (5.19% interest rate)
    Q1/2025 = 125.3k (interest rate dropped from 5.19% - 4.69%)
    Q2/2025 = 119.9K
  • ACG
    ACG Posts: 24,400 Forumite
    Part of the Furniture 10,000 Posts Name Dropper I've helped Parliament
    They are a relatively new company. I think they started by selling leads to other brokers and then decided to set up shop themselves a year or 2 back. 
    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.
  • PM22
    PM22 Posts: 277 Forumite
    Third Anniversary 100 Posts Photogenic Name Dropper
    Yes, they have very good reviews on Trustpilot, I have read them.

    They are charging £99 for the AIP and £1400 for the mortgage offer.

    They seem very good so far, just wondered if it's a scam as it seems to good to be true that you can get a mortgage with bad credit....
  • ACG
    ACG Posts: 24,400 Forumite
    Part of the Furniture 10,000 Posts Name Dropper I've helped Parliament
    Most of what I do is adverse.
    Its not a scam, 8 defaults registered last month your probablly not going to get a mortgage. 8 defaults registered last year and you probably can get one. 

    Having adverse generally just means higher interest rates for a couple of years. 

    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.
  • PM22
    PM22 Posts: 277 Forumite
    Third Anniversary 100 Posts Photogenic Name Dropper
    Yes, I got the defaults in 2022 when I lost my job and I have paid my DMP ever since with debt down at 6.6k now which I shall pay off when my flat sells. 

    The application was submitted on Friday so it's a nervous 2 week wait to see if Aldermore say yes and make my dreams come true.

    I've learned my lesson and will never be in debt again once this is paid off...
  • ACG
    ACG Posts: 24,400 Forumite
    Part of the Furniture 10,000 Posts Name Dropper I've helped Parliament
    Aldermore can be alright, I cut down the amount I used them as they were declining cases that fit criteria which was quite frustrating. That being said, it was normally where clients had 2-3 issues rather than just one (ie adverse from a specific period of time which seems to be your scenario). 

    If they do say no, dont worry. If you are looking at aldermore, there will likely be a Plan B, C and D available at similar 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.
  • PM22
    PM22 Posts: 277 Forumite
    Third Anniversary 100 Posts Photogenic Name Dropper
    Wow, thanks for your input. It's good to talk to someone who knows about this.

    Aldermore asked for a few more documents today so looks like they are still considering...
  • ACG
    ACG Posts: 24,400 Forumite
    Part of the Furniture 10,000 Posts Name Dropper I've helped Parliament
    Thats a good sign. Asking for more documents means they have not declined it outright.
    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.
  • No19v87
    No19v87 Posts: 69 Forumite
    10 Posts First Anniversary Name Dropper
    We used Haysto. They were fantastic.

    More expensive than your average broker but we found it to be value for money with all of the support, advice etc. provided. 
  • PM22
    PM22 Posts: 277 Forumite
    Third Anniversary 100 Posts Photogenic Name Dropper
    Did you manage to secure a mortgage with Haysto? What sort of adverse credit did you have if you don't mind me asking?
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