Adverse Credit History
The term Adverse Credit is used to describe borrowers who have a history of unsatisfactory credit transactions.
Merlin Mortgage Management Ltd (Newark Branch) offer their clients clear-cut, informed advice on the complicated and often confusing world of property mortgaging.
We are completely impartial and usually charge a modest broker fee which is payable on completion (please see our disclosure document below). Our advisors provide a friendly personalised service and are available 6 days a week in our comfortable office in Newark.
The term Adverse Credit is used to describe borrowers who have a history of unsatisfactory credit transactions.
These mortgages have been on offer in the UK since the late nineties, they are specifically designed for investors to borrow money to purchase property in order to let it out to tenants.
Borrowers may wish to release capital from their property to fund home improvements, a new car, a family holiday or another significant expense.
This is the legal process whereby the ownership of a property is transferred from one party to another. It is usually carried out either by a solicitor or licensed conveyancer.
If a client has overspent on credit cards and/or personal loans, and is finding it difficult to keep up with payments, they may wish to consolidate all their debts into one loan.
Calculating that first mortgage depends on a number of factors. The primary ones being, the borrowers total annual income, and any deposit size.
There are many costs to consider when moving house, a sudden change in mortgage repayments being a major one. Merlin Mortgage Management Ltd are on hand to find the best deal for home movers.
A mortgage secured on the clients home is used to generate capital. Interest payments are rolled-up on top of the capital throughout the term of the mortgage.
A borrower with an existing mortgage may wish to remortgage their property to release equity that has built up in the property, to take advantage of lower repayments or a combination of both.
The Right to Buy Scheme entitles council house tenants to buy their house at a discounted value which is calculated to reflect rents paid by the tenant.
A secured loan is a loan in which the borrower pledges some asset (e.g. A property) as collateral for the loan. The loan is thus secured against the collateral.