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Financial difficulties can make applying for a mortgage feel impossible. However, the guidance and support of a mortgage broker in Southend-On-Sea can make your homeownership goals a reality. Lightbulb Lending is an expert mortgage broker in Southend-On-Sea and helps clients with impaired credit secure a mortgage, no matter their financial history. Contact us for your FREE consultation.
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A debt management plan is a formal agreement with a singular body or charity, that will arrange payments with your creditors based on what you can afford. A DMP does not have a fixed end date and can last as long as is necessary to repay the debt. A DMP doesn’t mean that you can’t apply for and secure a mortgage, particularly with the help of a mortgage broker in Southend-On-Sea.
Need a mortgage broker in Southend-On-Sea? Learn more about DMP Mortgages…
An IVA is a legal agreement between you and your creditors to repay your debts at an affordable rate. Bankruptcy is when an individual cannot repay their debts and seek relief from some or all of their obligations. Securing a mortgage when you have an IVA or bankruptcy is within your reach when you’re supported by a mortgage broker in Southend-On-Sea.
Need a mortgage broker in Southend-On-Sea ? Learn more about IVA or Bankruptcy Mortgages…
Applying for a mortgage with no credit history may be challenging, but coming to a mortgage broker in Southend-On-Sea makes it possible. If you have no credit history, you are a high-risk applicant as no data shows how well you manage financial repayments. As your mortgage broker in Southend-On-Sea, we’re here to make sure that these setbacks don’t stop you from achieving your goals.
Need a mortgage broker in Southend-On-Sea? Learn more about No Credit Mortgages…
If you fail to meet the repayment terms of a credit agreement, you will incur a default. If you fail to repay a debt, you will be issued a County Court Judgement (CCJ). While these may limit your options with high-street lenders, this doesn’t mean that you can’t secure or apply for a mortgage. As your Southend-On-Sea mortgage broker, we can help you secure a mortgage with a default or CCJ.
Need a mortgage broker in Southend-On-Sea ? Learn more about Default or CCJ Mortgages…
Yes, it is possible to get a mortgage with a DMP, especially if you have been making consistent payments for at least 12 months.
A mortgage broker in Southend-On-Sea will recommend waiting at least 12 months after starting a DMP before applying for a mortgage.
Yes, it is possible to get a mortgage if you are in an IVA. A higher deposit will likely be required and only certain lenders will consider your application.
The longer the IVA has been settled, the better. Typically, after 12 months, the deposit requirement may decrease, and more lenders may be willing to consider your application.
Yes, you can apply for a mortgage after being discharged from bankruptcy for at least 9-12 months.
Yes, it is entirely possible to get a mortgage with no credit history. A mortgage broker in Southend-On-Sea can provide guidance and advice.
Typically, a minimum deposit of 10% is required, but a larger deposit may improve your chances of approval.
Yes, it is possible to get a mortgage with a default. You can rely on Lightbulb Lending to identify the lenders most likely to approve your mortgage application, despite these challenges.
Defaults and CCJs remain on your credit file for six years, although a CCJ can be removed if paid within 30 days of the judgement.
Yes, there are several steps you can take, such as registering on the electoral roll and paying bills on time.
The process can take several weeks, depending on the complexity of your application and the lender’s requirements.
The most important thing is not to be discouraged. As your mortgage broker in Southend-On-Sea, we will explore other lenders who may be more suited to your financial situation.
We have years of expertise in mortgage solutions for clients with impaired credit, including Debt Management Plans.
We never want to add to your money worries, so we offer FREE consultations and obligation-free quotes.
We work to understand your circumstances, ensuring we match you with the right lender.
We believe that everyone deserves a chance to own their dream home. So if you’re worried about securing a mortgage due to financial difficulties, please don’t hesitate to contact our mortgage broker in Southend-On-Sea today.
Finding the right mortgage is key to managing your finances and achieving your homeownership goals, whether you’re a first-time buyer or remortgaging.
North Fambridge, Essex, CM3 6FS
Finding the right mortgage is key to managing your finances and achieving your homeownership goals, whether you’re a first-time buyer or remortgaging.
Lightbulb Lending is a trading style of Simply Lending Solutions Limited Registered in England & Wales. Company No 09676170.
Simply Lending Solutions Limited, registered address: Barn 12, Runwell Hall Farm Hoe Lane Rettendon Common Chelmsford Essex CM3 8DQ. Authorised and regulated by the Financial Conduct Authority. We are entered on the Financial Services Register No 745164 at https://register.fca.org.uk/. The information contained within the website is subject to the UK regulatory regime and is therefore primarily targeted at customers in the UK.
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