Looking to buy a new build property?
Developers need to sell and are offering their new build stock at great prices so many believe now is the time to buy!
But did you know up to 100% residential mortgages are available??
When the developer is happy to retain an equity stake in the property there are some lenders who will treat this as your deposit contribution and will lend you 100% of your share. These are commonly known as shared equity mortgages and can be used with any developer willing to participate in the scheme.
They can even be used with private sellers of non-new build stock!
If you are a home mover or a first time buyer struggling to find a deposit, in addition to negotiating a good price, if the vendor is willing to retain a share of the property between 15-25% we know which lenders will allow you to take a mortgage of between 95-100% of your share but at low interest rates normally only reserved for those with larger deposits!!
For more information on how these mortgages can work for you click here and one of our experienced mortgage advisers will contact you
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Have you been declined for a mortgage recently?
Even if you have a very good credit record, you may have suffered from a….
‘Credit score decline’
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Credit scoring is where a lender takes into account all the information about your
circumstances such as how long you have lived at your address, how long you have been
employed for, your family status, if you are on the voters roll as well as how well you
manage your existing credit. Points are allocated for positive aspects and deducted for
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The credit crunch has seen many lenders pull from the market, tighten their criteria and in
particular many have ‘tweaked’ their scoring systems to decline property investors just for
having lots of property!
What many do not always realise is that each lender has a different scoring system based on
the lenders own experience of risk. There are even a few lenders that don’t use a credit score
system at all!
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Our experience and expertise in this area means we know exactly which lenders to approach
to hopefully turn your decline into an approval.
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