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NON
STATUS - LOW CREDIT SCORE - REFUSED ELSEWHERE -
SELF EMPLOYED WITH NO 3 YEAR ACCOUNTS
1st4
NON STANDARD Remortgage SOLUTIONS
It's
a fact of life, over 40% of UK residents have
experienced credit problems.
These
range in seriousness from £250 County
Court Judgments (CCJs), payment defaults on
loans and remortgages or rent agreements to full blown bankruptcy
of many millions.
What
ALL of these cases have in common is a "poor
credit rating". In the past it would
have been almost impossible to get a
remortgage, from ANY
source.
The
demand for remortgages means mainstream lenders can
still be "extremely selective" and ONLY
accept remortgage requests from people with perfect
credit scores. They OFTEN turn away or
refuse point blank remortgages for people with
less than a perfect credit score
Over
the last few years a new type of lender has
emerged who service the "SUB PRIME"
market i.e. people with a poor credit rating WHO
HAVE BEEN REFUSED ELSEWHERE.
Initially,
sub prime remortgage lending rates were extraordinarily
high with costly arrangement fees.
However,
due to market forces of "supply and
demand" the gap between "prime"
and "sub prime" interest rates have narrowed dramatically.
In
some cases a sub prime lender will now ignore
minor CCJs and defaults and even in the most
extreme bankruptcy cases, they will often
provide reasonable solutions providing
the remortgage has 75% loan-to-value (in other
words, you have a 25% deposit).
Arrangement
fees for sub prime remortgages are now VERY
competitive and depending on your personal
circumstance non existent.
Providing
you keep up a good payment record for the first
few years of a non status remortgage loan, many lenders
will allow you to transfer to a new lower
rate remortgage with no fees
attached.
1st4
remortgage brokers probably provide the fastest,
most cost effective solution for obtaining a non
status remortgage in the United
Kingdom.
1st4 remortgage brokers specialise
in assisting those who have had, or currently
have adverse credit problems. These may be County
Court Judgements (CCJs), defaults, mortgage, arrears or rent arrears.
There could be a previous bankruptcy
or repossession that may have caused
problems in the past or
are unable to prove your income.
1st4 can source a range
of plans to suit your specific circumstances and
needs from the simple problem to the extreme
challenge.
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