Missed Payments, CCJ`s, mortgage arrears. Poor Credit Mortgages

Missed Payments, CCJ`s, mortgage arrears. Poor Credit Mortgages

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Missed Payments, CCJ`s, mortgage arrears. Poor Credit Mortgages

14th August 2013

Video transcript

Securing a home loan can be difficult in the current climate regardless of your credit history, but if you're looking at poor credit mortgages, First Choice Finance could still be able to help.

While Council of Mortgage Lenders (CML) figures show that mortgage lending increased in May 2013, it's been mainly driven by London and the South East, with much of the rest of the country not getting hold of home loans quite so easily.

That's especially the case for people with poor credit histories, which many may have built up during the recession as they paid for more things on credit in the hope that they'd be able to pay it back soon once the economy recovered.

Having a poor credit rating can put a lender off providing you with a mortgage, as they may not feel as though they will see a return in their investment.

However, there are some providers who specialise in people in those circumstances.

First Choice Finance can search through the poor credit mortgages we have access to and find the most suitable one for you.

It'll be offered on a no-obligation basis and any quotes are provided for free, so you can turn it down if you are not completely satisfied with the quote.

Discover more about the poor credit mortgages that you can get through First Choice Finance by filling in our short enquiry form at firstchoicefinance.co.uk or by calling 0333 003 1505 from a mobile or 0800 298 3000 from a landline.
 

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Homeowner Secured Loans
9.8% APRC. Representative example: Borrow £50,000 over 180 months. 60 months at 8.1%, £497.83 pcm fixed at 60% LTV. Then 120 months at 10.1%, £539.89 pcm variable. Total payable £94,656.60. Total cost of credit £44,656.60 (including: £795 lender fee, £985 broker fee & £42,876.60 interest). First Choice are tied to certain loan providers.

Mortgages & Remortgages
8.4% APRC.
Representative Example: Borrow £120,000 over 25 years at 5.99%, £778.86 pcm fixed for 3 years at 60% LTV. Then at 8.75%, £974.86 pcm, variable for 22 years. Total payable £286,416. Total cost of credit £166,416 (including: £985 broker fee, £999 lender fee & £164,432 interest)


Unsecured Personal Loans
REPRESENTATIVE 49.9% APR (VARIABLE)
First Choice are tied to certain unsecured lenders.


THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT.
Security is required on immovable property.



Late repayment can cause you serious money problems. For help, go to moneyhelper.org.uk

Established In 1988. Company Registration Number 2316399. Authorised & Regulated By The Financial Conduct Authority (FCA). Firm Reference Number 302981. Mortgages & Homeowner Secured Loans Are Secured On Your Home. We Advice Upon & Arrange Mortgages & Loans. We Are Not A Lender.

First Choice Finance is a trading style of First Choice Funding Limited of 54, Wybersley Road, High Lane, Stockport, SK6 8HB. Copyright protected.

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