FAQ’s

1) Can Tax Credits be used to support income?

Yes, many lenders including some that allow for past credit problems will accept Child & Working Tax Credits.

2) How long can the mortgage be repaid over?

This depends upon your age, most lenders will consider a mortgage until age 70, but can look at a longer term depending upon individual circumstances.

3) Do PayDay Loans improve my credit rating?

No, this is unfortunately not the case as having had pay day loans can have a detrimental effect for mortgage lending. Many mortgage lenders do not accept clients who have had pay day loans particularly if they are recent. However we do have options depending on your individual circumstances.

4) How much can I borrow?

In the past lenders would suggest a loan amount of say 4 times income, however all loan amounts now are related to individual affordability taking into account your income and outgoings. We will advise you regarding the proposed lenders affordability figures.

5) Which Lenders do you use?

We have access to every lender including all specialist lenders that accept past credit problems. Many of the specialist lenders do not deal with clients directly they only accept business from approved brokers such as ourselves. We will choose the most appropriate lender for your personal circumstances.

6) Can I buy a new build property with the Help to Buy Scheme if I have had credit problems?

Yes, we do have options for this scheme even if you have had credit problems and this is still with only 5% personal deposit.

7) How long does adverse credit stay on my credit file?

Entries on credit files stay on for 6 years so this can impact on your ability to borrow for a long time. However we are specialists in dealing with such issues and will do everything possible to arrange your mortgage taking into account your personal circumstances.

8) Can Maintenance Payments be used for income purposes?

Yes, with many lenders they look to see that the maintenance has been received for at least 12 months.

9) I am looking to purchase a shared ownership property how much deposit will I need?

 A minimum of 5% deposit of your share price is required.

10) I am looking to purchase a Right to Buy property how much deposit will I need?

Only 5% of the deposit is required.

11) I am inheriting a property and need to raise money to pay siblings is this possible?

Yes, we can look to raise funds to pay off siblings and put the property into your name, this is still possible if you have had credit problems.

12) Will past credit problems such as CCJ’s or Defaults affect my mortgage application?

Yes, however we have many specialist lenders that are happy to lend to clients with past credit problems even including things like IVAs or Bankruptcy or past repossessions. Our experienced advisers will guide you throughout the transaction.

13) I need to remortgage my property to buy out my ex but have had credit issues can you help?

Yes, we have lots of experience of dealing with this type of situation and are fully aware of the sensitive nature of such arrangements. We will guide you every step of the way throughout the transaction.

14) I am unsure about the mortgage process what help will I get?

You will receive personal one to one support from start to finish giving you guidance and updates all the way until your new mortgage completes.