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There are over
9 million people in this country seen as unsuitable for conventional
lenders when applying for a mortgage. Having impaired credit is
a key factor in this decision. This needn't be the case for you.
With our free mortgage advice we can arrange the ideal mortgage
deal for you without charging high interest rates or multiple penalty
fees.
Firstly, if
you have been refused a mortgage before it would be helpful if you
found out why. If you contact Equifax you will be able to obtain
your credit file. This will give an indication of your credit situation.
Lenders refuse people with all different types of bad credit. These
include:
- County Court
Judgements (CCJ's)
- Defaults
- Mortgage
Arrears
- Bankruptcy
Orders
- Involuntary
Arrangements (IVA's)
Credit Reference
Agencies
These are huge
collections of information, including the electoral roll, information
supplied by other lenders and County Court Judgements (CCJ's). Equifax's
information includes some records of when you have fallen behind
with payments, and how many cheques you have had bounced.
CCJ's will be
recorded for six years from the date of the judgement - unless the
judgement was paid in full within one month of judgement being given,
when the court can remove the record if you contact them.
If a CCJ is
paid after more than one month, it can be marked as 'Satisfied'.
When you apply for credit, a lender will use this information in
its own credit scoring process.
In 1999 Experian,
one of the two credit reference agencies, processed 80 million credit
checks.
Inspecting
your credit records
You can inspect
your entry in both credit reference agencies. By law you have to
pay a fee of £2. About 650,000 people a year pay Experian to check
their credit file. Experian Start with Experian, because they have
a clear and detailed guide here.
They are at
- Consumer Help Service, Experian Limited, PO Box 8000, Nottingham,
NG1 5GX
Write, giving
you full name, date of birth, and current and previous addresses
for the last six years, and enclose £2 cheque/PO. They will send
you the file within 7 days, plus an explanatory booklet.
Equifax Europe
Alternatively,
to get a copy of your Equifax record Write
to- Equifax, Dept 1e, PO Box 3001, Glasgow, G81 2DT
- Enclose
your full name and address plus any previous addresses over the
last 6 years.
- Enclose a
Cheque or Postal Order for £2 payable to Equifax Europe PLC.
We have access
to specialist lenders who take a common sense view on this issue.
They offer competitive rates, low fees with schemes to suit most
cases.
These include:
- Purchase
Price
- Up to 90%
- Remortgages
- Up to 85%
- Low Interest
Rates
- Fixed
& Capped schemes available
- CCJ's
- Up to £10,000
- Defaults
- Any number
- Arrears
- Up to six months in last year
- Bankruptcies
- Discharged less than one year
- IVA's
- Current & satisfactory or completed
- Repossessions
can be considered.
To get the best
advice just simply fill in our application form and wait for one
of our many advisors to contact you usually within the next few
hours.
For
more information
Your
Security and Data Protection Web-Trader
Code Your
rights
| Useful
reading |
Useful Links |
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'Buying
a House'
'Buying & Selling'
and many other books
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