CAN'T PLACE A mortgage? HAVE YOU CONSIDERED........
REMORTGAGE .......... due to AFFORDABILITY (credit commitments)
Can we use a debt management programme to reduce monthly repayments? .......... due to LTV% restriction
Can we use short-settlement to reduce required LTV? or Do the applications have parents or grandparents who may be willing to assist by releasing some equity themselves by a tranditional remortgage, secured loan or equity release.
.......... due to adverse credit
Can we offer debt management facilities or an IVA to get the customer's credit back under control? It might even mean we can place the mortgage as a result.
.......... self-employed
Do they have a business which invoices people based on credit terms (eg. Settlement due within 30 days)? May be able to offer factoring (invoice discounting) to release some capital.
Alternatively, do they own commercial premises? We may be able to release some capital by way of a commercial mortgage.
PURCHASE .......... with insufficient deposit
Applicants may have parents or grandparents who may be willing to assist by releasing some equity themselves by a traditional remortgage, secured loan or equity release.
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