Many people in the UK experience difficulty obtaining a mortgage
from the 'High Street' lenders. The reasons are numerous but some
examples are; previous debt problems, being self employed or wanting
to raise capital for a commercial venture.
Mortgage Market has access to most of the 'adverse mortgage' lenders
available in the United Kingdom. Some of these lenders' interest
rates are as low as those of 'High Street' lenders.
A number of well known 'High Street' lenders use credit scoring
systems. In order to be considered by them for a mortgage, you must
pass their credit scoring system. Inter alia, factors used for credit
scoring include details of existing loans and hire purchase accounts,
credit reports, length of employment, time with current bank, job
position and whether or not you are on the electoral register (voters'
roll).
Many worthy people are rejected by this system. They therefore
think that they have a bad credit status and will be rejected elsewhere.
Some people, may through no fault of their own, have an adverse
credit profile, having had defaults or County Court Judgments (CCJs)
registered against them. They may have entered into an Individual
Voluntary Arrangement (IVA) or have been made bankrupt.
Other people have complex financial arrangements because of matrimonial
difficulties, unusual family circumstances or cultural differences.
One in six people is self-employed or a contract worker and thus
has an irregular income.
Our approach at Mortgage Market (Yorkshire) Ltd.
We simply look at the applicant's individual criteria and if we
feel they will not pass a credit scoring system, we then use one
of the many lenders, often subsidiary companies of the 'High Street'
lenders, who do not credit score and sometimes even offer mortgage
products superior to those who do credit score.
We were established in 1997 to source home loans in England, Scotland
and Wales to people who don't fit the mould.
We have become one of the largest advisor / packagers to the 'non-conforming'
market. Initially our services were only available through mortgage
intermediaries - financial advisors and brokers.
Now you can apply through this website or by calling us (local
rates ) on
0845 8500 444
(Calls may be recorded for training and security purposes.) |
