SPECIALIST RESIDENTIAL MORTGAGE OF THE MONTH

Our product of the month is the 90% LTV semi exclusive via Kensington; it tops our list once again as so many cases are falling out with other lenders due to the fact that they’re not able to use higher income multiples any longer; this product is filling that gap in the market.

Here are some of the criteria highlights for this popular product:

Clients’ with historical adverse credit history (i.e. no adverse in the last 24 months):

• Up to 90% LTV
• Adverse includes those in current debt management plans (DMP’s) as long as they have been in place for 2 years and satisfactorily conducted
• Purchases, including first time buyers are accepted
• Re-mortgage to settle current DMP
• Typically, rates can start in the region of mid 3% (no adverse in the last 36 months)
• Some products have a ‘fees free’ feature

Clients’ with current adverse credit history:

• Up to 85% LTV
• This includes those in current debt management plans (DMP’s) with no minimum period but it must have been satisfactorily conducted for the period it has been running
• IVA’s satisfied under 1 year ago with no adverse in the last 12 months are considered, only where the IVA occurred due to a major life event such as illness, divorce etc. For this scenario the max LTV is 75%
• Purchases, including first time buyers are accepted
• Re-mortgage to settle current DMP
• Typically, rates can start in the region of mid 2% depending on the client/property profile

READ MORE about the client scenarios we’re able to assist you with

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