Are adverse credit mortgages easy to get?
As lenders restrict lending on adverse credit mortgages, people with bad credit have found that they are more likely to be refused a deal. For those struggling to source a mortgage product Deal Direct can help.
One of the main obstacles to such borrowers trying to get a deal, is the loan to value required by lenders. It is likely that borrowers will be restricted to around 80 per cent LTV.
As with standard mortgages, bad credit mortgages will have set criteria to follow and different adverse credit mortgage products will allow different forms of bad credit.
Contacting a broker such as Deal Direct who are experienced at sourcing adverse credit mortgages is the way forward for those looking for a deal. We can apply for a decision in principle from lenders that we know will accept a borrowers previous credit history, paperwork is also made much easier when completed by us.
Here at Deal direct we can find adverse credit mortgages for borrowers and, providing we know exactly what credit problems there are, we can usually let a borrower know within around an hour if their application has been accepted.
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