Finding a mortgage with a poor credit history is difficult and has to be approached very carefully because of the shortage of lenders available in this market. Having the advice of a qualified Poor Credit Mortgage Broker will greatly enhance your chances. With only a few sub prime lenders to choose from, getting it right first time is very important.

Steven Neale – Specialist Bad Credit Mortgage Broker

Our experience as first time buyers was simply exceptional! We have been guided through the mortgage process and buying our first home has been an easy journey thanks to your professionalism and efficiency.

Esrskine&Machaj
13th Jan 2022

After thinking I was going to lose the new home I had fallen in love with, Steven worked hard with me and understood my circumstances. I was at the point of nearly giving up and within 4 weeks I had a full mortgage offer. Thank you for making my dreams come true. I would highly recommend your services. Absolutely no bull or jargon.

T Jones
10th Jan 2022

The service we have received has been amazing. We were kept up to date every step of the way. Honestly, the relief on my face when I received your email with the mortgage offer was priceless. I can not thank you both enough you are both amazing at what you do. We can not thank you enough for everything, Thank you so much, you have made our dreams a reality.

Foster
4th Nov 2021

Thank you foremost for choosing to specialise in adverse credit services for people. All we read online is that it is not possible or easy to get any form of credit when you have or settle an IVA and I’m so glad I kept looking and found you. You have helped us more than you’ll ever realise. We are so happy to have a chance to start again and be able to remain on the property ladder, all thanks to you.

Daw
1st Nov 2021

I would highly recommend Steve and Sue. Getting a mortgage seemed to be difficult for me at first when speaking to another advisor, I very nearly gave up due to the lack of effort and communication. Once we got in touch with Steve everything fell into place. Both Steve and Sue were very professional and informative throughout the process.

Thomas
27th Jan 2022

Steven & Sue have been absolutely amazing through the whole process – extremely calm, organised and helpful. We will definitely be using them in the future and would highly recommend them to family & friends.

Harden
20th Sept 2021

Steve and Sue have been absolutely amazing. I was really worried about my financial history meaning I wouldn’t be able to get a mortgage but they were nothing but supportive and non-judgemental, always available to explain things and answer questions as well as extremely efficient.

Mulready
18th Jan 2022

The professionalism of Steve and Sue is second to none. We were advised of our options and guided through the application process every step of the way. The big thing for us was the personal touch and relationship we built. My wife and I both agreed it felt like Steve and Sue are so motivated because they actually want to help. Probably the best professional service I have ever used so if you find yourself in need of a specialist mortgage broker look no further. Great service great people.

Hayward
28th March 2022

Struggling to ‘get back’ on the housing ladder after 15 years and being ‘self-employed’ was proving near enough impossible, until we found Steve & Sue. They found us a lender that would use my ‘day-rate’ rather than the usual ‘self-assessment’ and even though there was stumbling blocks along the way, they get us over the line with a ‘mortgage offer’! We can’t thank them enough and would definitely have no hesitation in using them again!

Day
28th July 2021

A fantastic service provided by SN Mortgages once again. Highly recommend SN Mortgages, they have been brilliant at finding the best rates for us, keeping in regular communication and quite frankly achieving the impossible! Where other brokers fail to come back to us or could not find a deal, SN would always go the extra mile and revert back. Thank you so much!

Patel
22nd July 2021

We are so grateful to Sue and Steve for all their effort in helping us get our mortgage. Their knowledge and clear love of their job shines through and they have been on hand to answer all our questions no matter how silly or small. They have clearly explained everything from start to finish which has made us feel so much more at ease throughout the whole process. We can’t recommend them enough!

Young
1st July 2021

Can I get a Bridging Loan?Bridging Loans

Is a Bridging loan a good idea? It is if you know what you are signing up for.

Bridging finance really should be your last place for finance having exhausted family, friends, mortgage lenders and second charge lenders because the interest rates and fees are high and not repaying the money borrowed when the Bridge comes to an end can have very severe consequences.

Interest rates range from circa 0.5 to 1.5% per month – yes per month – with lenders charging fee between 1 – 3% of the amount you borrow.

A typical Bridge term would be 6 or 12 months with interest rolled up i.e. added to the loan. How you repay all this money when the Bridge comes to an end is key to understanding how Bridging lenders think.

A lender is not really interested in your income or your job or for that matter your credit history as they are lending you money based on how they will get it back. What I mean is the ‘exit’ strategy – a word you will hear right at the very beginning of a conversation with a lender.

This exit strategy is the deciding factor to understanding if you are likely to be offered finance – how will the lender get their money back? They do not make any money until you repay the loan plus all the rolled up interest so the exit has to feasible, realistic and achievable.

For example you want to borrow £100k to finish a house you bought at auction for £200k and then sell it for £450k – think what is the exit for the lender? Easy – you complete the property improvements, put the house on the market and sell it. A lender would be comfortable with that arrangement knowing the works would take 6 months, the value would increase to £450k and then you would have 6 months to sell it.

You owe the Taxman £250k in unpaid taxes going back years and if you do not pay within 30 days they will instigate Bankruptcy proceedings against you (and believe me they will if they feel they have reached the end of the road with you). You do not have £250k but you have a house worth £1.1m and a small mortgage of £100k. Normally you would simply raise funds from a mortgage on your property but you have left it too late and do not have time so you decide to take a Bridging loan. What is the exit? You could either sell the property before the Bridge needs to be repaid or arrange a mortgage to cover the existing mortgage of £100k and the Bridging loan of £250k.

One more. You have sold your home and found one to buy. Exchange of contracts is on the same date, but the completion dates are staggered, for whatever reason. Let’s say completion on your sale will be after completion of the purchase so where does the deposit come from as it is tied up in your property and will not be available until you have completed on the sale. So you take a Bridge for the deposit on your purchase to be repaid when you sell your home.

There are many other reasons why a Bridging loan would work but remember the lender want to know what the exit strategy is.

Bridging loans are provided by introduction only.

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.

For more information on how I can help you with Bridging loans please call me on: 01494 526400 or complete my online enquiry form.

3 REASONS TO ASK ME TO ARRANGE YOUR MORTGAGE

Years of Experience

I specialise in Bad Credit Mortgages for people who have a poor credit history because of any number of reasons.

Choice of Lenders

I am a Whole of Market, Mortgage Broker meaning I can talk to every lender to see about finding you the right mortgage.

Saving You Money

As a specialist Mortgage Broker for over 30 years I have a great deal of experience that will help save you time & money.