Selective Mortgages were formed in 1999 and specialise in providing mortgages, remortgages and secured loans for clients who have past or current adverse credit registered. We have access to a number of specialist bad credit mortgage lenders who will consider applications that do not meet with the strict criteria applied by high street banks.
We also have access to some smaller building societies who are able to consider minor adverse credit mortgage applications on a case by case basis by taking account of your overall circumstances such as credit history, deposit and ability to maintain the mortgage repayments.If you need a bad credit mortgage we can help.
Each mortgage is assessed on an individual basis, but please note that as a minimum requirement, you will need to provide a deposit of at least 10% of the property value to be considered for these mortgages.Even if you have spoken to other mortgage brokers who have been unable to help you obtain a mortgage approval, please contact us as we have assisted many clients who have been declined elsewhere.
We also have access to some smaller building societies who are able to consider minor adverse credit mortgage applications on a case by case basis by taking account of your overall circumstances such as credit history, deposit and ability to maintain the mortgage repayments.If you need a bad credit mortgage we can help.
Each mortgage is assessed on an individual basis, but please note that as a minimum requirement, you will need to provide a deposit of at least 10% of the property value to be considered for these mortgages.Even if you have spoken to other mortgage brokers who have been unable to help you obtain a mortgage approval, please contact us as we have assisted many clients who have been declined elsewhere.
Services
We specialise in assisting people who have had adverse credit registered and do not currently qualify for a mortgage with high street lenders.
We use our 20 years' experience operating in the adverse credit mortgage market to identify the lowest rate mortgage for you and we have access to all of the lenders in this sector of the mortgage market.
As all client circumstances are different we assess each new enquiry individually to ensure we recommend the most suitable mortgage product that is available to you.
We use our 20 years' experience operating in the adverse credit mortgage market to identify the lowest rate mortgage for you and we have access to all of the lenders in this sector of the mortgage market.
As all client circumstances are different we assess each new enquiry individually to ensure we recommend the most suitable mortgage product that is available to you.
Adverse credit mortgages are suitable for people who are unable to obtain a mortgage with traditional high street lenders.
This may be because you have missed mortgage, loan or credit card repayments or have had defaults or CCJ's registered against you for example.
This type of mortgage was widely available prior to the credit crunch in 2007.
Since 2007, the market for adverse credit mortgages has shrunk dramatically and now there are far fewer lenders operating in this sector of the market.
The lenders still offering adverse credit mortgages require a minimum of a 10% deposit to consider an application and for some schemes the deposit requirement may be as high as 40%.
This may be because you have missed mortgage, loan or credit card repayments or have had defaults or CCJ's registered against you for example.
This type of mortgage was widely available prior to the credit crunch in 2007.
Since 2007, the market for adverse credit mortgages has shrunk dramatically and now there are far fewer lenders operating in this sector of the market.
The lenders still offering adverse credit mortgages require a minimum of a 10% deposit to consider an application and for some schemes the deposit requirement may be as high as 40%.
Statistics reveal that one in five people in the UK have what is regarded as a poor credit rating.
People falling under this category have a wide range of occupations, income levels and ages.
It may not be a matter of financial mismanagement but simply unemployment or even being in dispute with a company over payment of a bill.
All credit agreements that you have in place such as mobile phone contracts, credit and store card accounts and even gas and electric bills paid by Direct Debit may appear on your credit file.
People falling under this category have a wide range of occupations, income levels and ages.
It may not be a matter of financial mismanagement but simply unemployment or even being in dispute with a company over payment of a bill.
All credit agreements that you have in place such as mobile phone contracts, credit and store card accounts and even gas and electric bills paid by Direct Debit may appear on your credit file.
We will conduct a short face to face or telephone interview, where we will confirm details of your income, deposit and credit profile.
This allows us to build up a picture of your situation and we will quickly be able to establish whether you qualify for a mortgage or not.
Following the fact find, we will confirm the mortgage options available to you and provide you with details of the interest rate, monthly repayments and fees payable for the selected mortgage product.
If you wish to proceed with the mortgage on the terms indicated, we will then make an application to the lender on your behalf to secure an approval for you.
This allows us to build up a picture of your situation and we will quickly be able to establish whether you qualify for a mortgage or not.
Following the fact find, we will confirm the mortgage options available to you and provide you with details of the interest rate, monthly repayments and fees payable for the selected mortgage product.
If you wish to proceed with the mortgage on the terms indicated, we will then make an application to the lender on your behalf to secure an approval for you.
For us to assess if you qualify for a mortgage, we will carry out a short fact find to record details of your income, deposit and credit history etc.
Self employed applicants - proof of the latest year's accounts or latest HMRC SA302 certificate which will evidence your business nett profit, please note that some lenders will require two years income figures.
In addition to provable earned income, some lenders will consider income received via Tax Credits and where this income element is being declared, the lender would require sight of the current year's Tax Credits Award Notice.
Self employed applicants - proof of the latest year's accounts or latest HMRC SA302 certificate which will evidence your business nett profit, please note that some lenders will require two years income figures.
In addition to provable earned income, some lenders will consider income received via Tax Credits and where this income element is being declared, the lender would require sight of the current year's Tax Credits Award Notice.
Reviews
Be the first to review Selective Mortgages.
Write a Review
