So how much can I borrow?  

We can arrange mortgages for both Home Buyers and people remortgaging (i.e. combining your current mortgage and loans and additional cash back if required)

There are two main areas we look at when calculating how much you can borrow:

1. The value of your home (or the home you are buying)
2. Your income & loan commitments

1. Value of the property:

If you are buying a home the maximum mortgage available is between 75% - 90% of the property price 

(it just depends on how much you have been in arrears in the past.  For example, if your credit problems were sorted out more than 12 months ago, or if you've only missed a couple of payments in the last year, 90% would usually be allowed)

If you are remortgaging, the lenders will consider offering up to 80% of the property value.

2. Your income & current loan repayments

If you meet the property value criteria (as listed above), the next thing we look at is your income & your current loan repayments.  The important thing is that you can afford the new mortgage, and if you are remortgaging, that the new mortgage will help you reduce your monthly repayments.

As a general rule, the maximum loan will be based on what the new mortgage repayment will be - as long as the monthly repayments are less than 40% of your take home pay, and you've made at least a couple of payments on your loans in the last six months, we should be able to get approval for you.

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An arrangement fee is charged on bad credit history mortgages.  We will calculate this figure & provide it in writing to you   This is only payable on successful drawdown of the mortgage.  You do not need this money upfront - it can be taken out of your mortgage advance.