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.
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.
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.
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.
1st Nov 2021
SN Mortgages gave me a chance when no other brokers would. They listened and empathised with my situation. Advised me accordingly and supported me throughout my journey. Highly recommend.
11th Oct 2021
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.
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.
18th Jan 2022
Steve and Sue were very professional and provided an excellent service. Great communication throughout keeping you up to date at all times. Overall a smooth process, would highly recommend.
24th Aug 2021
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!
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!
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!
1st July 2021
Can I get a Second Charge Mortgage Loan?
Do you need a loan but your existing mortgage lender has said no?
The answer maybe a Second Charge Mortgage if you have:
- Credit card or loans debts on high interest rates
- Need funds to put your children through University
- Pay for school fees
- Buy a new car or holiday home
- Carry out some home improvements
- Give your children or grandchildren a deposit so they can buy their own home
- Pay for a Wedding
- ‘Pay off’ a mortgage partner
- Have a tax bill to pay
- Deposit for a Buy to Let property
- Tied into a fixed rate mortgage with redemption penalties
- Raise capital for business purposes
- Clear your Overdraft
- You want to keep your low interest rate mortgage product with your existing lender
- You have adverse credit and your existing lender will not lend to you
- Been offered a further advance from your current lender but at a higher interest rate
- Currently on an interest only mortgage
- Recently self-employed, retired or have income from multiple sources
- Cash flow problems – take a Second Charge Loan whilst waiting for debtors to pay you
- Repay a Directors loan
These are only some of the many reasons why a Second Charge Mortgage may be the answer.
What is a Second Charge Mortgage?
It is simply another loan secured on your property just like your mortgage. Your mortgage lender has a first charge on your property so is first to be paid if you sold your property followed by a second charge lender.
What interest rate do they charge?
Because second charge lenders are second to be paid, the risk is they may not get all of their money back if your property was sold. Therefore, they charge a slightly higher interest rate. The good news is the more equity you have in your home, the safer they feel so the interest rate they charge would be lower.
The Second Charge Loan market is very buoyant at the moment with lots of lenders looking to lend. Although interest rates are not as low as first charge lenders (i.e. the High Street mortgage lenders) rates are still very competitive.
To find out more, please give me a call and I can put you in touch with one of the expert firms I deal with for Second Charge Loans.
Secured 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 Second Charge Loans, please call me on: 01494 526400 or complete my online enquiry form.