Bad Credit Equity Release-NO BROKER FEES-Discounted and fixed rates

Bad Credit Equity Release Options

Ravenwood services have finance options for homeowners looking to release equity from their properties

Products for people with and without mortgages currently
Use your own home, a buy to let property, a commercial or mixed-use property
For some products, your lousy credit is irrelevant, and only checks on your identity are performed as regulations dictate. Poor credit history includes types like CCJ’s, defaults, missed payments and arrears.
Low rates include Fixed, Variable, discounted and tracker options
Many options are available to people under 55 years old unlike other equity release products
Rates that are Fixed, Discounted, Tracking and Variable
Some lender products do simple electronic valuations
Shared ownership OK
Tier 2 Visa Holders
Tax-free lump sum

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Getting help when you want a remortgage

It’s usual to encounter individuals looking for bad credit remortgage specialists, remortgage lenders for bad credit or their remortgages for lousy credit; however, mortgage lenders like Virgin Money PLC are keen to see paperwork to show affordability in the form of state benefit letters, payslips or universal credit letters.

Paperwork to show income:

Lenders such as Spring Finance, Masthaven or Central Trust often accept evidence of affordability with

wage slips
p60

Examples of bad credit

Secured loan lenders such as Norton Finance, Norton Finance or United Trust Bank can often lend to people with

ccj records
late instalments

Affordability criteria for homeowner loans

It’s common to find it cheaper to get a secured loan than a refinance.

Finding heavy adverse credit companies:

Foundation Home Loans
Bluestone Mortgages
Paragon BTLPortfolio
Accord Mortgages

Typical mortgage durations with Buckinghamshire Building Society

28 years
Six years

Fees

broker fees
arrangement fees
completion fee

Finding help when it’s necessary for a homeowner loan

brokers
financial advisor

It’s widespread to discover people searching for a mortgage with poor credit, the best lenders for bad credit, or poor credit mortgage lenders. However, home loan lenders like the Yorkshire Building Society are keen to see proof of monthly income through P60s, pension statements, or universal credit letters.

Mortgage Loan to Value (LTV)

It is expected to encounter individuals looking for a mortgage loan to value (LTV) of 70%, 85% or even as much as 95%; however, it’s hard to get 95%.

Getting help when it’s necessary for speedy remortgage

It is very common to find individuals searching for a mortgage for lousy credit, remortgage lender for bad credit or low credit remortgage; however, loan companies like Tipton and Coseley are keen to see evidence of affordability in the form of p60, payslips or accountant certificates.

Costs for secured loans

Upfront fees
Valuation fees
Booking fees
Broker fees

Types of mortgages lenders offer for Primary Residence, including for substantial adverse credit.

Discounted rate mortgages Teachers B Building Society
Repayment mortgages Furness Building Society
Cashback mortgages Tipton and Coseley

The first and second charge lenders will want to know if the property is a semi-detached freehold house or a Leasehold flat and if the occupier is an Owner-Occupier Primary Residence.

Get your financial needs in order before the risk of a No-Deal/Hard Brexit causes some lenders to leave the UK Finance market.