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Specialist mortgage protection insurance
Many people can find themselves in difficulties with mortgage or other loan repayments, which can result in a bad credit rating and potentially the need for non-standard mortgage protection in the future. When you apply for a new mortgage or re-mortgage this might be refused, even though the problems are in the past. Despite the credit crunch, however, there are specialist mortgage lenders who will consider such cases and in the event that a mortgage is granted, an appropriate non-standard mortgage protection policy would normally be required.
However loans, mortgages and re-mortgages can often be obtained for those with past or present credit problems, even County Court Judgements (CCJ's), as long as you own your home and it is of sufficient value. For many people, obtaining a new non-standard or non-status mortgage and reorganising their finances can bring large savings. If you are having difficulties, it is always a good idea to approach a specialist mortgage provider in order to give you professional advice and avoid damaging a credit rating even further. Obtaining quotes for non-standard mortgages and the related non-standard mortgage protection requires the skills of a broker or mortgage provider who specialises in poor credit rating mortgages and life insurance products.
"With an IVA and previous CCJ's against my name, I knew my credit rating was poor - but I still needed a mortgage and mortgage protection."
QuoteRack mortgage advisers are specialists who have experience with bad credit history mortgages and may be able to assist you, provided you own your own home, with or without an existing mortgage. You may be advised to take out a fresh mortgage in place of your existing mortgage, giving you some spare cash to repay outstanding loans and at the same time making savings in your monthly payments.
NOTICE: A mortgage is a loan that is secured on your home and you also need to think carefully before securing any other debts against your home. Your home could be taken away by the lender and sold if you do not keep up the repayments on the mortgage or any other debt secured on it - if you are in any doubt, seek independent professional advice. These notes are offered as a general guide only and do not constitute financial, mortgage or legal advice.
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"A self-certification mortgage was the answer for me, as a self-employed individual, trading for under a year, it was my best option."
"I needed to re-mortgage and to consolidate some other debts as well - talking to an independent financial adviser who was an expert in these matters really put my mind at rest."