New Start Financial
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New Start Financial Services is a mortgage brokerage firm who specialises in hard to place mortgages such as mortgages for self-employed, mortgages with CCJ or IVA as well as mortgages with other financially challenging situations. New Start Financial Services is part of the Quilter Financial Planning Network, which can provide access to some exclusive mortgage products that are not generally available to the public.
Highlights

read more › It can seem that bad credit mortgages are an impossible to get but this is not the case - New Start Financial Services helps to arrange these mortgages daily. After the 2008 'credit crunch', specialist lenders almost disappeared and with them bad credit mortgages. Fortunately, there has been a slow return of specialist lenders and it is now possible to get a mortgage with a bad credit rating, even if you have been discharged from bankruptcy. Mortgage loans for bad credit borrowers do definitely exist - but you are unlikely to find the right solution on the High Street.

read more › Specific self-employed mortgages do not exist though sometimes if you are self-employed, a contractor or a director of a limited company it might feel like Lenders don't understand your situation, but New Start Financial Services helps to arrange self-employed mortgages daily. The self-employed make up 15%* of the employment market, playing an important role in driving economic growth, vital during these times of uncertainty, as we continue our journey through Brexit. But these go-getters are often wrongly rejected by mainstream lenders when they are seeking a mortgage.

read more › Yes, a mortgage after bankruptcy is possible and New Start Financial Services helps to arrange these mortgages daily. Even though the "sub-prime" mortgage sector almost closed following the financial crisis in 2007-08, it is now again possible to find a lender if you were previously bankrupt even as recently as a day ago. There are specialist lenders that in the right circumstances and with the required deposit will consider your application. Insolvency Law means that you will not be able to obtain a mortgage until you are discharged, but once finalised you are free to apply, though obtaining a mortgage after bankruptcy has a lot to do with time passed.

read more › An IVA (Individual Voluntary Arrangement) is an agreement to pay back your creditors over typically a five-year period. If you have been late or had missed payments, and you are struggling to meet the repayment terms, you can apply for an Individual Voluntary Arrangement to an insolvency practitioner (IP) - an agreement with your creditors to pay all or part of your debts. You agree to make regular payments to an insolvency practitioner, who will divide this money between your creditors. With an IVA you put forward an offer of payments on your debts to your creditors.

read more › Yes, you can still apply for a mortgage with payday loans and New Start Financial Services helps to arrange these mortgages. Payday loans have caused a great deal of controversy and are often cited as the reason for consumers getting into considerable amounts of debt. Taking out a payday loan could limit your choice of mortgages, even if you pay it off in full and on time. Many lenders would interpret a payday loan as evidence of being overstretched and are often reluctant to lend. This is because they view resorting to such loans with very high rates of APR % as a sign that borrowers are under pressure.

read more › Yes, you can still apply for a mortgage with CCJ and New Start Financial Services helps to arrange these mortgages daily. By 2008, at the time of the 'credit crunch', lenders catering for clients with poor credit had almost disappeared. Some lenders stopped lending completely and others moved to more mainstream lending only and many of the adverse lenders from the early 2000's were forced to exit the market completely as either their appetite for risk reduced or they ceased trading. 10 years on, things have changed.

read more › Yes, it may still be possible to get a mortgage with a default and New Start Financial Services helps to arrange these mortgages daily. Defaults are registered by lenders when an account falls into arrears, usually by 6 months though some are registered earlier. It is possible to not be aware that you have a default and possible to only find out when a mortgage application fails. Unpaid credit usually means getting a default but often these do not become county court judgement so for many people defaults are the major obstacle to getting a mortgage.

read more › Yes, you can still apply for a mortgage after missed payments and New Start Financial Services helps to arrange these mortgages often. Whilst it is true that some lenders are less strict than others, late (or missed) payments are likely to affect your mortgage application to a certain degree. If you missed a payment on any form of credit (such as personal loan, credit card), the information about it will stay on your credit file for six years regardless of how quickly you have caught up with the payment.

read more › Yes, you can still get a mortgage with a debt management plan, and New Start Financial Services helps to arrange these mortgages daily. A debt management company agrees with your creditors to pay a reduced amount each month in line with what you can afford. You then pay this amount to the debt management company and they then pay your creditors usually after taking out a fee. Debt management plans are often used when you can no longer meet your commitments, very often through a change in your circumstances resulting in a reduction of your income.

read more › We will contact you by either email or telephone to get a full understanding of what you are looking for and how we can best help. We will not carry out a credit search without your permission but are likely to request a copy of your credit report from you to be able to advise you best. We will treat your enquiry sympathetically and will do our very best to find you a solution. The initial advice we give you will not cost you anything and you will not be committed. If you then are happy to progress things, we will then look to secure your full mortgage offer as quickly as possible, keeping you informed of progress.

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