Specialist Unhealthy Credit score Mortgage Dealer Steven Neale Explains How To Get a Mortgage If You Have a Poor Credit score Historical past.
Steven specializes in Adverse Credit Mortgages including Shared Ownership, Help To Buy (Wales), discharged Bankrupts or IVA’s, clients in a Debt Management Plan.
Steven Neale, a specialist Bad Credit Mortgage Broker can help clients find a mortgage deal despite the rising interest rates in the U.K. His firm SN Mortgages & Financial Services Ltd based in High Wycombe, has helped dozens of people secure a mortgage even in complex situations. Over 175 clients have posted genuine Testimonials about how Steven and his team have helped clients find a mortgage despite their credit history.
Earlier this week, mortgage rates in Britain witnessed the highest increase since 2008. The high rates might lead to weaker economic activity in the coming months and in early 2024. The average rate is now 6.66% for a 2-year fixed deal. British homebuyers usually take mortgages with a 2- or 5-year fixed rate. When the duration is over, they upgrade to an acceptable variable rate or an updated fixed rate. Meanwhile, housing prices in the U.K. declined at the fastest annual pace in June, thanks to the escalating mortgage costs.
With all this going on, finding a mortgage with poor credit can be daunting. There is a shortage of lenders in this particular market so getting a mortgage application right the first time is very important. Steven is an experienced specialist and can help you from initial advice in finding a lender, through to submitting a full mortgage application and getting a mortgage offer.
Steven has helped people find a mortgage in various scenarios.
Shared Ownership Mortgages, where homebuyers with poor credit history can buy their first home through the Shared Ownership Scheme, this is very popular at the moment, especially since the withdrawal of the Help To Buy (England) scheme coming to an end.
Mortgages whilst in a Debt Management Plan (DMP) can be difficult to find but not impossible, providing the DMP has been running for circa 12 months and no payments have been missed. The chances of success will depend on the specifics of the DMP, a client’s credit profile, income, and affordability. Getting advice from a specialist broker such as Steven can help track down those lenders prepared to consider clients with a DMP.
Having a Mortgage declined is very stressful, with the thought of losing a property you have fallen in love with quite upsetting. Steven can determine why the application was declined and then look for a lender prepared to consider you for a mortgage. Getting the next mortgage application is important so a conversation with Steven, should help your chances of securing a mortgage.
To learn more, visit https://stevenneale.co.uk/about-me.
About Steven Neale
Steven Neale is a specialist bad credit mortgage broker and a specialist in adverse credit mortgages with over 30 years of experience in the industry. Steven helps people get mortgages in various scenarios such as bad credit, arrears, defaults, CCJs, IVA, DMP, mortgages after bankruptcy or repossession and refusal, contractor mortgages, Help to Buy (Wales) mortgages, Right to Buy mortgages, Shared Ownership mortgages, First Home Scheme (England only), product transfer mortgages, second charge mortgages, and bridging loans.
8.5% APRC, based on borrowing £112,500 over 25 years on a 6.14% fixed rate until 30th September 2025 giving 25 monthly payments of £734.50 followed by 275 payments of £894.78 on a variable rate (currently 8.49%). Total amount payable £266,832 including the following one-off costs – £35 Funds Transfer, Final Repayment Charge £80.
Second charges and bridging finance is arranged by introduction only.
Your home may be repossessed if you do not keep up repayments on your mortgage
Steven Neale – SN Mortgages & Financial Services Ltd
Address: La Cachette, Upper Stanley Road, High Wycombe, Buckinghamshire HP124DB
Email: [email protected]