Mortgage Meadow - Credit Repair Next Time Buyer

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Credit Repair Next Time Buyer

Trouble obtaining credit may not be due just to problems in the past maintaining credit. Did you know that not being on the voters roll at your current property or a lack of a bank account can affect your ability to borrow money? For those who have had problems maintaining credit in the past, please remember you are not alone. There are many lifestyle events that occur to people every day that change their ability to maintain credit. This can include divorce, loss of a job, or a serious illness that prevents you from working for a prolonged period of time.

These events coupled with the fact that personal debt in the United Kingdom is at record levels (Source: Bank of England 200), means it has become common to find people with poor credit histories who struggle to arrange a mortgage.

The good news is that Mortgage Meadow are experts, so can find you the most suitable credit repair mortgage for your circumstances; including mortgages for people with:

    • Mortgage or loan arrears
    • Credit or store card missed payments
    • Repossessed Properties
    • Discharged bankruptcies
    • County Court Judgments (CCJs)
    • Defaults
    • Individual Voluntary Arrangements (IVA)
    • Little or no credit history

It is important to remember that by meeting the repayments of an adverse credit mortgage, you will improve and repair your credit history, provided you have not accumulated additional debt problems. This will make it easier for you to secure credit in the future and at lower interest rates.

At Mortgage Meadow we have strong links with a large number of lenders putting you in a better position to secure a credit repair mortgage than by you searching the market alone. We can talk through deals with the decision-makers in person and explain to them your situation. Having this relationship with lenders means that they can take an individual view on your particular circumstances and are more likely to agree the loan as a result. For more information on credit repair mortgages, please speak to one of our advisors now. Alternatively if you require some advice on dealing with debt, please visit our online help area, which contains relevant links to some of the UK's best debt advice charities.

Remember think carefully before securing other debts against your home. Your home may be repossessed if you do not keep up repayments on your mortgage

The overall cost for comparison is 8.6%APR. The actual rate available will depend upon your circumstances. Ask for a personalised illustration.

**Credit Repair Next Time Buyer**

Type	Initial Rate	Duration	Subsequent Rate	Overall Cost for Comparison	Early repayment charges	Incentives

Tracker Rate	6.64%	3 years	8.24%	8.5% APR	7% of the loan to be paid within the first year, then 6% of the loan to be paid within the next 2 years	None
Discount Rate	6.90%	2 Years	7.90%	8.3% APR	7% of the loan to be paid within the first 2 years	None
Fixed Rate	6.99%	4 years	8.24%	8.5% APR	7% of the loan to be paid within the first year, then 6% of the loan to be paid in the second year, then 5% of the loan to be paid in the third year, then 4% of the loan to be paid in the fourth year	None
Fixed Rate	7.09%	3 years	8.24%	8.6% APR	7% of the loan to be paid within the first year, then 6% of the loan to be paid for the next 2 years	None
These pages are a summary of information and interest rates currently available to Mortgage Meadow. These products are subject to other criteria that may or may not mean they are available to you, depending on your individual circumstances. For a more accurate figure please contact Mortgage Meadow for a personalised illustration or use our online mortgage assistant. APR is calculated based on a £100k capital and interest mortgage over a term of 25 years, and figures are correct at the time of going to the Internet in August 2008. Information for this table has been taken from the Trigold Mortgage Sourcing system.