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  • #1

    Anyone know Mortgage Providers for people with defaults please?

    Hello All!

    Just wondering does anyone know any mortgage providers that will have reasonable rates for people that has defaults please?

    Thank you in advance.

    bobo x
    Be kind, for everyone you meet is fighting a hard battle!
    Tags: applications, bank, bank statements, benefits, broker, brokers, businesses, checks, credit, credit checks, credit history, customers, dca, debt, debts, defaults, ditch, fee, firm, gold, help, house, ico, income, insurances, interest, letters, life, loan, london, mas, money, mortgage, niddy, paid, pay, people, providers, rate, rates, results, sky, tax, unenforceable, updates, wife, work
  • #2
    Re: Anyone know Mortgage Providers for people with defaults please?

    Hiya

    The only mortgage provider I'm aware of is GE Money but they had certain requirements:

    Defaults had to be older than 2 years (There was also a limit on the number of defaults but can't remember what that was)

    Minimum 10% deposit or higher

    Not available direct - have to go through a broker

    Best
    SnV
    "I fear all we have done is to awaken a sleeping giant and fill him with a terrible resolve."

    The consumer is that sleeping giant.!!


    I'm an official AAD Moderator and also a volunteer, here to help make the forum run smoothly. Any views or opinions are mine and not the official line of AAD. Similarly, any advice I have offered you is done so on an informal basis, without prejudice or liability. If in doubt seek advice from a qualified insured professional - Find a Solicitor or go to the National Probono Centre.

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    • #3
      Re: Anyone know Mortgage Providers for people with defaults please?

      Originally posted by SaltnVinegar View Post
      Hiya

      The only mortgage provider I'm aware of is GE Money but they had certain requirements:

      Defaults had to be older than 2 years (There was also a limit on the number of defaults but can't remember what that was)

      Minimum 10% deposit or higher

      Not available direct - have to go through a broker

      Best
      SnV
      Thank you SnV!!
      Think GE Money will be out of the question if there's a limit on defaults

      And sorry, I forgot to mention, its for re-mortgage.
      Be kind, for everyone you meet is fighting a hard battle!

      Comment

      • #4
        Re: Anyone know Mortgage Providers for people with defaults please?

        Yeah echo above. A broker will be able to actually speak with someone with regards to your application. Of course, it depends on lots of factors, such as the number of defaults, default dates, amount, deposit you are putting down etc.
        Good luck!
        When Gold isn't enough, there is SA Gold! New to the forum and find the UE route a bit scary? Take a look at my diary here and judge for yourself. I am now saving the money each month that was making little difference to the balance and not a bit of difference to my credit file as a result of finding AAD.


        I'm an official AAD Moderator and also a volunteer, here to help make the forum run smoothly. Any views or opinions are mine and not the official line of AAD. Similarly, any advice I have offered you is done so on an informal basis, without prejudice or liability. If in doubt seek advice from a qualified insured professional - Find a Solicitor or go to the National Probono Centre.

        If you spot an abusive or libellous post then please report it by Clicking Here. If you need to contact me, for instance if I've issued you a warning, moved, edited or deleted your post, please send me a message by clicking my username.

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        • #5
          Re: Anyone know Mortgage Providers for people with defaults please?

          Wasnt there a discussion about this very thing between SXGUY and Mgfboy?

          Or am I imagining it. Seem to think that mainstream was no no if you had even a smear on your shiny credit file.

          But there were peeps who would offer a mortgage for subprime customers. Just they were off radar so to speak and if you decided to not pay them back then they didnt refer you to a normal DCA. Their DCA was shaped like a baseball bat was made of wood and this wooden baseball bat shaped thing was attached to a gorilla.

          But like I say I might of imagined the discussion between them.

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          • #6
            Re: Anyone know Mortgage Providers for people with defaults please?

            Originally posted by ken100464 View Post
            Wasnt there a discussion about this very thing between SXGUY and Mgfboy?
            I often have these types of thoughts although can never remember if its because i have imagined it, or can't find the link!
            When Gold isn't enough, there is SA Gold! New to the forum and find the UE route a bit scary? Take a look at my diary here and judge for yourself. I am now saving the money each month that was making little difference to the balance and not a bit of difference to my credit file as a result of finding AAD.


            I'm an official AAD Moderator and also a volunteer, here to help make the forum run smoothly. Any views or opinions are mine and not the official line of AAD. Similarly, any advice I have offered you is done so on an informal basis, without prejudice or liability. If in doubt seek advice from a qualified insured professional - Find a Solicitor or go to the National Probono Centre.

            If you spot an abusive or libellous post then please report it by Clicking Here. If you need to contact me, for instance if I've issued you a warning, moved, edited or deleted your post, please send me a message by clicking my username.

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            • #7
              Re: Anyone know Mortgage Providers for people with defaults please?

              Have a read here this may help -----> credit checks for a mortgage.
              Last edited by Deepie; 24 April 2013, 12:38.
              I'm an official AAD Moderator and also a volunteer, here to help make the forum run smoothly. Any views or opinions are mine and not the official line of AAD. Similarly, any advice I have offered you is done so on an informal basis, without prejudice or liability. If in doubt seek advice from a qualified insured professional - Find a Solicitor or go to the National Probono Centre.

              If you spot an abusive or libellous post then please report it by Clicking Here. If you need to contact me, for instance if I've issued you a warning, moved, edited or deleted your post, please send me a message by clicking my username.

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              • #8
                Re: Anyone know Mortgage Providers for people with defaults please?

                I recently obtained a mortgage with defaults on my file. All over 4 years old but not satisfied. I used a company called godirect who do charge £249 upon application but they went through everything beforehand. Use a decent broker and they should tell you from the offset whether you stand a chance or not. I think 3 years clean is an absolute minimum though.

                Good luck.

                Comment

                • #9
                  Re: Anyone know Mortgage Providers for people with defaults please?

                  Originally posted by Beefy1976 View Post
                  I recently obtained a mortgage with defaults on my file. All over 4 years old but not satisfied. I used a company called godirect who do charge £249 upon application but they went through everything beforehand. Use a decent broker and they should tell you from the offset whether you stand a chance or not. I think 3 years clean is an absolute minimum though.

                  Good luck.
                  ah that's good to hear. Do you mind saying who provided the loan in the end? Was it good rates?
                  When Gold isn't enough, there is SA Gold! New to the forum and find the UE route a bit scary? Take a look at my diary here and judge for yourself. I am now saving the money each month that was making little difference to the balance and not a bit of difference to my credit file as a result of finding AAD.


                  I'm an official AAD Moderator and also a volunteer, here to help make the forum run smoothly. Any views or opinions are mine and not the official line of AAD. Similarly, any advice I have offered you is done so on an informal basis, without prejudice or liability. If in doubt seek advice from a qualified insured professional - Find a Solicitor or go to the National Probono Centre.

                  If you spot an abusive or libellous post then please report it by Clicking Here. If you need to contact me, for instance if I've issued you a warning, moved, edited or deleted your post, please send me a message by clicking my username.

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                  • #10
                    Re: Anyone know Mortgage Providers for people with defaults please?

                    Originally posted by missy View Post
                    ah that's good to hear. Do you mind saying who provided the loan in the end? Was it good rates?
                    It was a company called Aldermore and the rate is 3.98% fixed for 2 years. You have to have a 20% deposit of which a maximum of 5% can be 'gifted' and you have to prove that. There was a completion fee of £999 and the valuation fee was £180. It was an easy application process through the broker - Obviously a very nail biting time though! You are not required to take out any of their insurances either. I never thought I would get a mortgage so I am really happy.

                    Comment

                    • #11
                      Re: Anyone know Mortgage Providers for people with defaults please?

                      Originally posted by Beefy1976 View Post
                      It was a company called Aldermore and the rate is 3.98% fixed for 2 years. You have to have a 20% deposit of which a maximum of 5% can be 'gifted' and you have to prove that. There was a completion fee of £999 and the valuation fee was £180. It was an easy application process through the broker - Obviously a very nail biting time though! You are not required to take out any of their insurances either. I never thought I would get a mortgage so I am really happy.
                      nice one beefy! not such a bad deal then
                      When Gold isn't enough, there is SA Gold! New to the forum and find the UE route a bit scary? Take a look at my diary here and judge for yourself. I am now saving the money each month that was making little difference to the balance and not a bit of difference to my credit file as a result of finding AAD.


                      I'm an official AAD Moderator and also a volunteer, here to help make the forum run smoothly. Any views or opinions are mine and not the official line of AAD. Similarly, any advice I have offered you is done so on an informal basis, without prejudice or liability. If in doubt seek advice from a qualified insured professional - Find a Solicitor or go to the National Probono Centre.

                      If you spot an abusive or libellous post then please report it by Clicking Here. If you need to contact me, for instance if I've issued you a warning, moved, edited or deleted your post, please send me a message by clicking my username.

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                      • #12
                        Re: Anyone know Mortgage Providers for people with defaults please?

                        Aldermoor are about the only lender that will look at this sort of thing but you need to be clean for 3 plus years.

                        Good lender though they still actually use people to underwrite!!!

                        Comment

                        • #13
                          Re: Anyone know Mortgage Providers for people with defaults please?

                          I can't fault them to be honest and they do look at each case individually. It was gamble applying but I have been good for nearly 4 years which I think helped. They scrutinize your bank statements and so forth - From memory I think they asked for 6 months.

                          At least they are will to give people a chance without charging the earth.

                          Comment

                          • #14
                            Re: Anyone know Mortgage Providers for people with defaults please?

                            Can't fault them
                            When Gold isn't enough, there is SA Gold! New to the forum and find the UE route a bit scary? Take a look at my diary here and judge for yourself. I am now saving the money each month that was making little difference to the balance and not a bit of difference to my credit file as a result of finding AAD.


                            I'm an official AAD Moderator and also a volunteer, here to help make the forum run smoothly. Any views or opinions are mine and not the official line of AAD. Similarly, any advice I have offered you is done so on an informal basis, without prejudice or liability. If in doubt seek advice from a qualified insured professional - Find a Solicitor or go to the National Probono Centre.

                            If you spot an abusive or libellous post then please report it by Clicking Here. If you need to contact me, for instance if I've issued you a warning, moved, edited or deleted your post, please send me a message by clicking my username.

                            Comment

                            • #15
                              Re: Anyone know Mortgage Providers for people with defaults please?

                              is this for a self cert style mortgage....?

                              Would love to ditch MAS #5
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