It is a well-known fact that house sales in the United Kingdom have been on the rise even though the economic situation is not that good. Investment in property is still rising, and with mortgage rates at their lowest in years, people are putting their money in property as a surefire investment venture. With the current sentiment, the mortgage industry has acted fast to offer prospective customers a whole range of options with very attractive benefits.
Adverse Judgements
With this wide range of options available, it could become very confusing for prospective property buyers, and this is where it pays to use an independent financial advisor to go through what is available and select the best option for you. However, if you fail make your mortgage repayments on time, a case might be registered against you, and if the complaint is upheld by the court, you could have a County Court judgement or CCJ registered against you. This could seriously affect your credit rating and getting a mortgage with a CCJ attached to your name could put off potential mortgage providers from dealing with you.
Viable Financial Risk
Fortunately, there are many institutions that offer bad credit mortgages, but to find out who will be ready to accept your case, you will need the expertise provided by experienced and respected financial advisors. The current credit crunch has resulted in many financial institutions to cut down on their dealings with potential customers who may be a financial risk; this means that obtaining a mortgage with a CCJ might be an extremely difficult proposition. A financial advisor can go through the records of your judgement and will assess whether you might still be a viable candidate for a mortgage; they have a list of lenders who could provide mortgages, based on their recommendations.
CCJ Mortgage Lender
An experienced financial advisor would have a list of mortgage service providers who would be ready to lend to potential property buyers with an adverse credit residential or buy to let rating. One of the main reasons for this adverse rating is the issuance of a CCJ; this rating could affect your credit rating quite badly, giving you trouble to find a mortgage lender. This ruling, if registered under your name, could affect your ability to get a loan or mortgage for up to six years. The credit crunch has not helped with many lenders tightening their lending criteria, making it extremely difficult to get a mortgage. Your financial advisor may find you a mortgage lender, but your interest rates may be tweaked, based on the number of CCJs' against you, and their monetary value.
Adverse Judgements
With this wide range of options available, it could become very confusing for prospective property buyers, and this is where it pays to use an independent financial advisor to go through what is available and select the best option for you. However, if you fail make your mortgage repayments on time, a case might be registered against you, and if the complaint is upheld by the court, you could have a County Court judgement or CCJ registered against you. This could seriously affect your credit rating and getting a mortgage with a CCJ attached to your name could put off potential mortgage providers from dealing with you.
Viable Financial Risk
Fortunately, there are many institutions that offer bad credit mortgages, but to find out who will be ready to accept your case, you will need the expertise provided by experienced and respected financial advisors. The current credit crunch has resulted in many financial institutions to cut down on their dealings with potential customers who may be a financial risk; this means that obtaining a mortgage with a CCJ might be an extremely difficult proposition. A financial advisor can go through the records of your judgement and will assess whether you might still be a viable candidate for a mortgage; they have a list of lenders who could provide mortgages, based on their recommendations.
CCJ Mortgage Lender
An experienced financial advisor would have a list of mortgage service providers who would be ready to lend to potential property buyers with an adverse credit residential or buy to let rating. One of the main reasons for this adverse rating is the issuance of a CCJ; this rating could affect your credit rating quite badly, giving you trouble to find a mortgage lender. This ruling, if registered under your name, could affect your ability to get a loan or mortgage for up to six years. The credit crunch has not helped with many lenders tightening their lending criteria, making it extremely difficult to get a mortgage. Your financial advisor may find you a mortgage lender, but your interest rates may be tweaked, based on the number of CCJs' against you, and their monetary value.
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