Compare 100% ccjs mortgages - we uncover the facts !
Facts and figures on 100% ccjs mortgages
Anybody else having problems with 100% ccjs mortgages? Unfortunately getting a 100% ccjs mortgage may lead to rejections. Like insurers dislike male drivers but favor lady drivers. Many mortgage and loan lenders and even brokers have a similar kind of system, normally banks and building societies prefer good credit history customers and stay clear of bad credit customers. For those with adverse or poor credit this small guide will give some easy to follow tips to increase your chances of not being rejected and help you get the mortgage you need.
Below are some easy to follow tips to help you :
Secret 1 : Make sure you can afford the payments ! Ensure you can afford the payments even if interest rates rise in the future. If possible fix the 100% ccjs mortgage interest rate.
Secret 2 : Keep a look out for early payment charges ! When you accept a mortgage you enter an agreement with the provider, this covers how long a special interest rate will be applied for. If you want to remortgage and move companies during this time or sometimes for a year or two after some lenders incur charges. Look in the details of the small print to check what charges may be hidden.
Secret 3 : Don't accept the first quote ! Weigh up the benefits of different offers using either a broker or mortgage adviser. Use online mortgage league tables to see what kind of interest rate are being offer for customers with CCJs.
Secret 4 : See if you can improve your poor credit scoring - Finance companies update your credit file incorrectly and put down late payments that where made on time. To remove incorrect records from your file you can use Equifax or Experian to access you credit file. You can also remove some forms of County Court Judgements. Our main site explains this in detail.
Secret 5 : Use a 100% ccjs mortgages specialist broker or independent mortgage adviser. These experts normally have access to nearly every mortgage product on the market and thus can source you the best possible deal. The opposite of building societies and banks these agencies have access to hundreds of mortgage products and can sometimes offer cheaper rates than going direct to the actual bank lending the money.
If you will be filling in applications for a 100% ccjs mortgages then you need to make sure you apply to the kind of lenders that will accept you. When doing so you should be careful and only apply to the right kind of mortgage lending companies. When you apply a credit search will be done by the lenders. Lots of searches on your credit file can decrease your credit score and thus increase the APR you are offered from a lender. Limit the searches done to 3 or so and you should be fine.
The first site to help you is this site Mortgages CCJs it specializes in adverse credit history mortgages. In addition lots of advise for remortgaging can be found by visiting CCJs Remortgages
About the Author
Damian is the owner of many finance related websites. Including mortgage, loans and debt advice. For more information visit Mortgages CCJs
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