Please help... We have just accepted an offer on our house( which we own out right) which is great. We have had our offer accepted on the house of our dreams. We need a mortgage of 40k towards the sale of the new house and went to our mortgage lenders today to finalise everything as we had a decision in principal off them, only to be declined as our credit score is too low. My husband got 2 ccj's 3-4 years ago after he suffered a stroke and it too 8 months for him to get the correct benefits he was entitled to. We dont know what to do now, will we find a mortgage company that will lend to us even with the ccj history. We have been paying these and dont have a lot left on them.Please help we really want to move and we do have 120k equity in our property!!
divine Fri 25/04/08 20:39
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email anthony@refinanceuk.com and he wil sort you out, quickly. He specialises in this type of mortgage and is the best broker I know.
Good Luck
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Question Author
Thanks finance guy.. will wait till hubby gets back from the pub and will tell him. Obviously the rates are going to be higher but u got an idea how much higher??
Thanks
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Best broker you know, if you're going to blatantly plug your own products, then try and be a bit more subtle.
Divine, try a mortgage broker - easy enough to find in the Yellow Pages. They have access to a large number of mortgage brokers and will be able to help you and will not rip you off like these refinance places.
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Question Author
Thanks Cakeboy.
That makes more sense. We just went into panic mode earlier lol... but ur right i dont wana be ripped off! So we should be ok???? Do u think!! Thanks again!!
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Good lord, why the negativity?
Please, by all means, try anywhere you wish. What I gave was a genuine piece of advice.
Anthony is NOT me and he IS the best broker I know! The rates will not be as high as you fear and they are extremely good at what they do.
Sorry if my recommendation has been ill-received, it was not the intention
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To answer your question though, your looking at around 6.19%, fixed rate, I would say
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Question Author
Thanks finance guy! i appreciate ur advice!! That asnt as bad as what i thought it would -could be!
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Go to Chelsea building society I am in an IVA whjch is far worse and they have accepted me no problem they have special mortgages for bad credit and they are at extremely good rates. You need to ask about Prospect Adverse range they have lent me 75% of the value of my house all fees are paid so is the valuation. Completed in three weeks!!!
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Chelsea's customer service is good, but their products generally are not. Try a broker who will have access to the whole market and find you the best deal. It may be Chelsea - it probably won't be Chelsea. Even give FinanceGuy a try. Lots of mortgage brokers are so short of business that they have taken to advertising their "advice" on websites such as this.
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Can I just say, for the last time, I am not Anthony!
I give advice, including specific names of individuals who may be able to help, on many questions. All I see, is cynicism and mistrust in return, on this occasion.
Advice is a great thing, as you can take it or leave it, therefore causing no harm to anyone. Anthony is a broker who has access to the whole of market, he is not affiliated to any individual lender and, I believe, he is the best.
I am not a mortgage broker myself, so I have used him for my own mortgage and he did me a very good job.
If this is, by merit of its more cynical members, an advice site who does not like advice that gets straight to the heart of the matter, then it is fundamentally flawed in my opinion.
I raise my eyes to the heavens in frustration!
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Please ensure you deal with an independant mortgage broker... they are not tied to any estate agency or bank and can get you the best deal. I have been a mortgage broker for over 20 years ( but I am not plugging myself) .
Most lenders have soent their funds for this month and are announcing there new deals Thursday Friday of this week ...
Also be prepared for this to take a while, RBS have had a 21 working day backlog earlier this month, CHL have had a 15 working day backlog and the list goes on. Average time to get a mortgage offer out at the moment is anything up to 8 weeks.... sorry but the marketplace is a hard at the moment.
You will also find it hard to get any tracker rates that are decent so it may be worth paying the lenders variable rates for a few months, these usually have no fees and no tie ins so that when the money begins to flow back into the banks you can jump to the lender that gives you the best deal then. Don't tie yourself to a high rate of interest at the moment, as money is tight lenders are trying to charge large fees please don't pay them.
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