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    • banksy0786
    • By banksy0786 8th Apr 18, 6:02 PM
    • 2Posts
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    banksy0786
    bad credit - help to buy scheme - what rate did you get? who with?
    • #1
    • 8th Apr 18, 6:02 PM
    bad credit - help to buy scheme - what rate did you get? who with? 8th Apr 18 at 6:02 PM
    Hello all
    I am new to this forum and i am currently prospecting for a mortgage.
    I used to have a good credit profile until I defaulted on an old credit card (low) balance (because of moving houses a few times, I never received any letter...).
    This balance was paid as soon as I was made aware.
    Consequently, I have been turned down by the high street banks and a broker showed me a potential 4.84%! fixed for 2 years with Precise Lender which seems high as I was expecting about 0.5% to 1.0% higher than the high street banks rates.

    Can you please share with me:
    - good mortgage broker for poor (but not really) credit on the help to buy scheme
    - what sort of rates did you get
    - who was the lender

    Many thanks

    I am currently working on removing the default on my credit profile.
Page 1
    • amnblog
    • By amnblog 8th Apr 18, 6:26 PM
    • 10,410 Posts
    • 4,116 Thanks
    amnblog
    • #2
    • 8th Apr 18, 6:26 PM
    • #2
    • 8th Apr 18, 6:26 PM
    You need to concentrate on doability, not rate here.

    With recent default, your options are minimal.
    I am a Mortgage Broker

    You should note that this site doesn't check my status as a Mortgage Broker, 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.
    • banksy0786
    • By banksy0786 8th Apr 18, 6:44 PM
    • 2 Posts
    • 0 Thanks
    banksy0786
    • #3
    • 8th Apr 18, 6:44 PM
    • #3
    • 8th Apr 18, 6:44 PM
    Thank you for your response. What do you think of the rate though? Is it excessive? It looks to me quite high...
    • amnblog
    • By amnblog 8th Apr 18, 8:18 PM
    • 10,410 Posts
    • 4,116 Thanks
    amnblog
    • #4
    • 8th Apr 18, 8:18 PM
    • #4
    • 8th Apr 18, 8:18 PM
    The Rate is what it is.

    It is not a buyers market when you present with a default.
    I am a Mortgage Broker

    You should note that this site doesn't check my status as a Mortgage Broker, 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.
    • Noobie2011
    • By Noobie2011 9th Apr 18, 3:06 PM
    • 125 Posts
    • 15 Thanks
    Noobie2011
    • #5
    • 9th Apr 18, 3:06 PM
    • #5
    • 9th Apr 18, 3:06 PM
    We are in the same position and the research I have done is the likes of Kensington, Precise and Aldermore who are more specialist lenders will be 4%+.

    Our broker has somehow managed to get us a DIP with Natwest on a rate of 1.7 roughly now

    But it comes down to what you can get as I think the rates for the HTB are pretty set in stone with each lender
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