ADVERSE AND POOR CREDIT MORTGAGES

There are many reasons why someone will be declined for a mortgage, some are obvious as listed below and other reasons are not so obvious and may need further investigation. Do nor despair or believe you have no chance at all. With our access to the whole of the market and our expertise, Westexe are able to help and as in many cases over the years we have been able to successfully get the mortgage our satisfied customers wanted.

County Court Judgement: A CCJ is a judgment that a county court issues when someone has failed to pay money that they owe. CCJs are a simple way for creditors to claim the money they're entitled to.

Default: The failure to promptly pay interest or principal when due. Default occurs when a debtor is unable to meet the legal obligation of debt repayment. Borrowers may default when they are unable to make the required payment or are unwilling to honor the debt.

Arrears: Overdue debt, liability or obligation. An account is said to be "in arrears" if one or more payments have been missed in transactions where regular payments are contractually required, such as mortgage or rent payments and utility or telephone bills.

IVA: An Individual Voluntary Arrangement is a legally binding agreement between you and your creditors. The arrangement will normally last 5 years and during this period you will be expected to pay what you can afford outside reasonable living costs. An IVA has to be set up by a licensed professional called an Insolvency Practioner (IP).

Bankruptcy: Bankruptcy is an option that often has to be considered when an individual cannot pay their debts as they fall due. A first time bankrupt with debts will generally receive their discharge one year after the date of the bankruptcy order (there is the possibility that in some cases the bankruptcy discharge period will be less than one year).

Low credit score: A credit score is a numerical expression based on a statistical analysis of a person's credit files, to represent the creditworthiness of that person. A credit score is primarily based on credit report information typically sourced from credit bureaus.

Although the above are probably the main reasons why people can be declined for a mortgage, other factors can also be taken into account by mortgage lenders. For example, a late payment on a credit card or mobile phone can cause an application to be declined. These days it is all to familiar for people to be declined for a mortgage for no apparent reason or for people to just feel that they are unsuitable and therefore they do not even try.

At Westexe we have had years of experience in helping people get a mortgage who have had financial difficulties, who have just simply been declined by a lender or they can't borrow enough.

The answer is YES!...now, what's the problem? Contact us now for help in getting that mortgage no matter what your circumstances are.

For simple honest advice and help with debt problems, please contact: www.thedebtadvisor.co.uk/home.aspx

Get Your Credit Report here....

Experian: www.experian.co.uk Equifax: www.equifax.co.uk Callcredit: www.callcredit.com/

Your home may be at repossessed if you do not keep up repayments on a mortgage or any other debt secured on it

Testimonials

Peter has assisted in the purchase of multiple properties under specific purchasing conditions and severe time constraints, resulting in READ MORE

“I was introduced to Peter at Westexe to assist us with refinancing our mortgage. Throughout the process he was helpful, responsive and most importantly managed my expectations when the process by the lender appeared to be slowing. READ MORE

Latest News

First Time Buyer SPECIALS

First Time Buyer Specials 15% deposit – rates from 3.29% 10% deposit – rates from 4.29% ...

READ MORE

FTB’s failing to take up record number of 95% LTV deals

The number of 95% loan-to-value mortgage deals available to first-time buyers is at the highest leve ...

READ MORE