Ravenwood Mortgage Services are specialist mortgage brokers, who have specialists in broker only adverse lenders. We are independent and have access to a massive range of lenders. We have a lot of direct contacts know a lot about bad credit mortgages.
Many lenders we used a lot in 2005-2007 that disappeared from the mortgage market have come back in late 2013, so more accessible finance is achievable. After 2008 interest-only mortgages were all but gone, but in 2014 they started to come back.
Mortgage lending, bridging finance and development funding has been helped by a lot of positivity in the UK property market as unemployment goes down, interest rates stay low, and confidence is strong.
Bad credit mortgages are now getting terms closer to prime mortgages, and lenders have more confidence in the UK property market.
As interest rates are likely to stay historically low for a sustained period, people with cash can’t hold some money. They have to invest it, or they lose.
Rents in the UK continue to be powerfully combined with the demand for rental properties; the UK property market is seen around the world as a haven to hold your money.
What do we offer?
- Mortgages for owner-occupiers – finance for your own home. Don’t have a full-time contract or zero-hour contract, self-employed? Are you looking for Bad Credit Secured Loans? Speak to us!
- Mortgages for investors in both residential and commercial property. Semi commercial lenders for mixed-use property titles.
- Specialist/niche mortgage products for a non-conventional property like Homes of multiple occupancies.
- Structured finance for property developers, including refurbishment and redevelopment.
- Short and medium-term, open and closed bridging finance enabling property purchase under challenging circumstances.
- Urgent bad credit remortgages
- Auction property finance in time-sensitive situations.
In addition to finance, we can refer you to specialist case buildings insurance companies that can quickly insure non-conventional property and property in poor condition. Structural issues, roofing problems and other difficult title situations can be protected promptly.
Because of our extensive knowledge of lenders criteria, both published and “non published”, we aim to get your finance application right first time to subject you to the minimum of delays and minimising the damage of searches in your credit file. This means no credit check until you are ready to apply to the lender.
A moderate amount of wage growth in the UK has made property affordable, especially outside the M25. Around the capital, property prices are still very high but have come off a little since Brexit as foreign cash buyers have been less willing to buy.
Lots of London tube zones 3-7 still have property prices below £650 per sq ft, but properties on the side of the Thames and in tube zone 2 were efficiently achieving £1000 per sq ft plus.
Outside the South East of England, you can still buy residential property for £150 per sq ft, even less in areas known for high rates of crime, high unemployment and low wages.
People are hanging onto many pre-crisis mortgages as some of them are terrific deals, but if you have a post-financial crisis mortgage, it could be an excellent time to refinance as lenders are being forced to compete for borrowers business.
There is little evidence lenders are concerned about the UK leaving the European Union. It’s true that a weaker pound will eventually filter through to higher commodity prices and domestic energy costs which will hurt peoples disposable income a little. But this should be offset by wage increases as the British economy expands.
Home Equity Finance Options
Some people could consider equity release to get money tied up in their home. There are options for people under 55 also.
Different types of property
The main categories that lenders look at differently are:
- Residential property that you live in
- Residential property that you own to rent out
- Mixed-use property that has commercial and residential elements where you may or may not live at your self/trade from
- Commercial property you run your own business from
- Commercial property you own to rent to another business
Legal and General Equity Release
1st Stop Secured Loans
Evolution Money Secured Loans
Nationwide Equity Release
HSBC Equity Release
Lloyds Bank Lifetime Mortgages
Lifetime Mortgages TSB
Bad credit Equity Release
Masthaven Homeowner Loans
Lifetime Mortgages from the Halifax
NatWest Equity Release
Coventry Building Society
United Trust Secured Loans
Tipton and Coseley Building Society
Pepper Homeowner Loans
Spring 2nd charge homeowner loans
Precise 2nd Charge
Royal Bank of Scotland Equity Release
Santander Equity Release
Norton 2nd Mortgages
HSBC bridging loan
Bridging Loan Nationwide
Natwest Bridging Loan
RBS Bridging Loans