Here at Martland Mortgages, we’re constantly in touch with the decision makers at the Mortgage Lenders themselves. Thanks to our experience & understanding of the sort of mortgage package you – our clients – are looking for, we’re delighted to be able to announce this incredible package that helps meet the needs of so many enquiries that come in to our offices.
But of course, we’ll advise you based on your own particular & unique circumstances. We understand the complexities of your day-to-day finances, we’ve heard it all & seen it all so no matter what your credit & financial history, do talk to us – we have hundreds of different lending packages available to us and will always chose the most suitable one for you & your family.
This particular package has been created to particularly appeal to those with Defaults, CCJs, Bankruptcies or Repossessions in their past.
Below are just some of the circumstances & criteria where we may be able to assist clients who for one reason or another may have experienced serious or high level adverse credit problems in the past.
Please note that it can’t be guaranteed that we can assist every single application that appears to meet this criteria as obviously each individual’s circumstances differ from one person to another. However, below is some indication and obviously, once we receive a fully completed fact find, we’ll then be in a position to fully assess your circumstances and advise on the best way forward to obtain your mortgage offer.
Our mortgage package for bad credit allows for:
- High income multiples
- Self-employed Mortgages for applicants who have only been self-employed for one year can borrow up to 85% of the purchase price or the value of the property if re-mortgaging
- Three missed mortgage payments in the last year: but the applicant must not have missed the last three month’s mortgage payments and must be up to date with the mortgage at the time of application – can borrow up to 75% on purchases or re-mortgages and rates start at 3.98% on 2 year fixed rates (please note rates can change between now and application stage so please check with us first on what rates we can obtain for you)
- With defaults and county court judgements (CCJs) applicants must have none within the last six months and they do not have to be satisfied.
- There is no limit to the value of the county court judgements so, as an example, if an applicant has a CCJ for £100,000 that remains unpaid, that case may still be accepted.
- Defaults are also allowed but the total amounts must not exceed £5,000.
- IVA and Bankruptcies that have been discharged two years or more can also be accepted.
- Repossessions:
- Any clients that may have had a property repossessed which was three years old or more can be accepted up to 75% of the property value or 80% of the property value if the repossession was six years previous or more.
- Flats above shops, including bars, restaurants and take-away’s can be considered up to 60% of the property value or 75% if they are not shops, bars or take-away’s etc. Again, please enquire for further details.
- 95% on new build houses or flats: again, this applies for applicants who experienced adverse credit but please check with us to enquire as to how much adverse credit can be accepted on these plans.
- Pay-day loans: Pay Day loans showing on a credit file are grounds for rejection by many lenders but for this package, can be accepted providing that the applicant has not taken out any pay-day loans within the last six months.
- We can re-mortgage up to 90% of the property value for any reason with the exception of debt consolidation where we can re-mortgage applicants up to 75% of the property value
- Applicants who have only been employed for one month or more can be accepted with one month’s payslip but the applicants must not have any probationary period written into their new contract of employment
Again, every mortgage enquiry is different and each application is looked at individually; the above are just a small summary of some of the financial & personal circumstances and criteria that we may be able to assist with.
If enquiring regarding the above criteria please quote “Reference AE”
Any other enquiries please call our main line 01704 808286 7 days per week 9am – 9pm.
