Consumers who have an adverse credit history often struggle when trying to buy or remortgage a home. 1st UK Money’s team of bad credit mortgage brokers specializes in helping these customers get the deals they need to achieve their financial goals.
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The credit score system makes the life of banks, mortgage brokers, and other agents in the financial industry a lot easier. However, the system has its flaws, and one of them is that it keeps track of people’s past financial struggles and mistakes long past the point where they are relevant.
Take a consumer who lost their job and subsequently failed to make their credit card payments as an example. Once that consumer gets a new job, it may take months — or even years — for their credit score to fully recovered, despite now being able to make regular payments.
Since many financial institutions place heavy emphasis on credit scores when considering a consumer’s risk factor, a low credit score — whether it is deserved or not — makes it difficult to get access to credit at reasonable rates. It is a big problem for those looking to take on a mortgage, get financing to move to another house, or those looking to remortgage their homes.
That’s where 1st UK Money comes in. They are a team of mortgage brokers who have specialized in helping consumers with adverse credit scores. And their approach to helping them with the issue is relatively simple. They help consumers get in touch with lenders who are willing to look past a person’s credit score and take a more holistic approach to evaluating their risk factors.
“We have access to a wide range of Specialist Lenders who will pay more attention to your ability to pay in the future than to mistakes made in the past,” explains the 1st UK website. The company has years of experience helping customers with adverse credit navigate the UK mortgage sector. They’ve built an in-depth understanding of all the available specialist products over the years, which allows their brokers to help people who are struggling with their adverse credit.
1st UK Money’s brokers help customers who are looking to buy a home, remortgage their home, buy to let, and those who are looking to take out secured loans. They also have financial services aimed at special groups that may have unique needs, as their page on mortgage finance for those over 65 shows. Other examples of this include the company’s services targeted at helping people over the age of 55 get competitive deals on equity release products and 1st UK Money’s efforts to help self-employed individuals find the right mortgage for their specific needs.
The credit score system wasn’t designed with freelancers and solo entrepreneurs in mind. Both groups often have a hard time building up their credit or proving that they have a reliable source of income when dealing with traditional financial institutions.
Contact Info:
Name: 1st UK Money
Email: Send Email
Organization: 1st UK Money
Address: 329, 339 Putney Bridge Rd, London SW15 2PG, United Kingdom
Phone: 0203 129 30 81
Website: https://www.1stukmortgages.co.uk/
Release ID: 89078243
