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Sub Prime Mortgage
poppy456
Posts: 12 Forumite
Due to partners past credit problems (2 defaults, totalling £700 which were satisfied 13 months ago and a current IVA) the best mortgage we can get, according to our broker, is 7.25% 2 year fixed rate with Future Mortgages. Would going with a sub prime lender be deterimenatal to our credit rating? Or, do you think I should go it alone on my clean credit file?
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Comments
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if you can apply/afford on your wage only then I would do that. what does your broker say - its their job to best advise you...You're my wife now Dave.......0
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Word of caution on Future mortgages;
It is well known they are declining a big proportion of cases after agreement in principle stage.
This is due to the worldwide credit crunch.
Many brokers do not seem to be aware of other adverse credit lenders which include Cheltenham & Gloucetser, Accord (good old Yorkshire BS), UCB and BM Solutions. Check those options out and NEVER rely on the word of one broker.0
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