The last few years have proven to be more than a challenge for a lot of people for a variety of different reasons. An increasing amount of people that had perfect credit in the past have struggled to maintain it in the face of changes to their employment (redundancy or reduction in their pay), the high cost of living and, most recently, the energy crisis. Some may have only a slight blip on their credit history like a missed credit card or car loan payment. In either case, High Street lenders will see them with less than perfect credit.
Consequently, many are concerned they'll not be able to refinance their mortgage and get stuck paying a much higher interest rate as their current low-interest rate expires. In addition, people worry that they'll not be able to get a new mortgage if they want to move or buy a house for the first time.
The pressure that people face in the weight of adverse credit can be paralyzing and that feeling of being trapped can become overwhelming.
Whether it's knowing that they're stuck in their home, thinking they can't move into a more suitable property (as their family expands for example) or the financial pressure of their mortgage payment going up significantly and not being able to afford the payments are becoming all too common.
The NHS sites a stressful life event, like money worries, is one of the main causes of Depression.
However, all is not lost. Reassuring your client that there are solution out there in the marketplace and you can help them find a way out of their perceived darkness, could make you a champion for all those with a blip on their credit history. Having a conversation with West One, could be your client's answer to a financial oasis.
We know your clients are more than just credit score and we look at the whole picture to understand their circumstances. Our highly experienced underwriters take a holistic approach to lending that means they look for reasons to help borrowers with a diverse range of circumstances rather than automatically declining applications due to a low credit score or adverse credit history.
We also allow remortgage customers to capital raise up to a maximum 85% LTV (Prime Plus & Prime) and 75% LTV (Near Prime) for any legal purpose, which includes debt consolidation, giving borrowers important financial options that may not be available on the high street.
Our fast-tract remortage service provided by our in house legal is designed to provide a streamlined service to speed up completion times for our customers.
Our residential mortgages range start from £25k to £1m with lifetime tracker with 2-and 5-year fixed rates.
We are experts in complex cases so wether your client is looking for a new mortgage or refinance an existing one, please do get in touch even if your client is struggling with poor credit. A mortgage from West One might just save the day and allow your client to sleep more peacefully at night.
With an increasing number of borrowers opting to switch products with their existing mortgage lender often onto a longer-term fixed rate, our range of second charge mortgage products could be the ideal solution if they need to raise further funds either now or in the future.
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