More about bad credit remortgages
Don't be embarrassed or overwhelmed by the thought of applying
for a bad credit mortgage. Get to know the process and then speak
to Leybridge Limited for more help and advice.
If you're looking for a remortgage then the likelihood is that
you already have a mortgage, although it may be some time since
you took it out. The process for remortgaging your house is almost
identical to taking out an original mortgage, but if you have had
credit problems in the meantime, you may need to look at different
options.
The bad credit remortgage market
This market has grown in recent years, for two main reasons:
-
Increase in debt - the average level
of debt per head in the UK has increased substantially over
the past decade and a greater percentage of the population have
a bad credit rating. This has, in turn, increased the demand
for financial products that are designed for this market.
-
Increase in house prices - the growth
in house prices has forced many people to reject moving house
as an option and instead use their money to extend or convert
their homes to provide extra space. Whilst often cheaper than
moving, these projects are still costly and homeowners often
need to remortgage in order to fund them.
The combination of people wanting additional funds, but being increasingly
in debt has led to specialist lenders designing and offering remortgage
products for people with bad credit. These products are usually
only available through recognised mortgage advisors.
Talking to a mortgage advisor
Once you have decided that you need a bad credit mortgage, approach
a mortgage advisor just as you would for a regular mortgage or loan.
Specialist advisors like Leybridge Limited deal with bad credit
customers every day and are knowledgeable, friendly and helpful,
making you feel happier about discussing your financial position
and needs. Before you commit yourself to a bad credit mortgage advisor,
check the following:
-
Regulation - every mortgage broker
is required by law to be authorised by the Financial Services
Authority (FSA). Each company has an individual authorisation
number and you can check that they are authorised by visiting
the FSA website. It is illegal for a company to give mortgage
advice if it is not authorised.
-
Experience - the bad credit remortgage
market is a specialist one and you should check that the advisor
you're talking to has experience in placing this sort of business.
-
Customer service - make sure you're
happy with the way you're treated. Good customer service should
always come first, so look for testimonials and customer comments
that show the level of service that the company provides.
At Leybridge Limited, we combine product knowledge and expertise
with the type of customer service we'd expect to experience ourselves.
That's what sets us apart from the competition, and that's why you
should call us now on 0800 977 7587 to ask about how we can help
you get a bad credit remortgage.
|
