Non standard alternatives to the high street lenders
Over the last few months Trinity Financial have seen mortgage lenders start to ease credit scoring requirements and now they are now quite so tough. Big high street banks such as Santander are slightly less demanding and they will take on new customers with the odd missed payment. If you are looking for a mortgage and you have been turned down, then there are now some alternatives.
Aldermore Mortgages are a relatively new lender and they say that they will offer mortgages to borrowers where high-street lenders will not. For example, they do not credit score and they will consider lending to you if you have missed credit card or mortgage payments. If you have a county court judgment (CCJ) then most banks will not be so keen to lend to you, although Aldermore say that they will consider it.
The Kensington Mortgage Company is more of a traditional lender with a history off offering more adverse credit rates. They have both prime and minor adverse options. They will lend to those with a maximum of two CCJ's providing that they were satisfied six months ago and to those with two defaults in the last two years.
Their two year fixed rates start at 5.89% and borrowers need a 30% deposit.
February 19, 2011
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