Olivia Latham

Olivia Latham

Olivia Latham creates articles and press releases for property finance, auction finance, repossession, secured loans and all other finance available at UK Property Finance

Are Developers Deliberately Misleading Leasehold Property Buyers?

A worrying report published by the Competition and Markets Authority (CMA) suggests that a growing number of leasehold property buyers are being deliberately misled by developers. Many buyers are being subjected to unfair treatment while being charged excessive fees without reasonable justification.

No specific developers or housing companies were named, but the CMA has insisted it intends to take action against those ‘trapping’ unsuspecting buyers with misleading information and false promises.

Specifically, the report from the CMA accuses housing developers of failing to explain what purchasing a leasehold property entails or that the properties they are selling are in fact on leasehold contracts.

Stealth fees and hidden costs

Many of those affected reportedly were not informed ahead of time of additional fees and costs, like regular ground rent payments. By the time the true terms and conditions of the sale became clear, it was too late to pull out without losing vast sums of money.

The CMA investigation found that some property developers doubled their ground rent charges every 10 years, making it difficult or even impossible for leasehold property owners to sell their homes at a later date for an acceptable price.

In an interview with BBC Radio Five Live, CMA representative George Lusty stated that those affected could be entitled to refunds.

“If we can attack and challenge these unfair ground rent terms, then they’re invalid; all the money that was collected on them isn’t valid, and that has to be paid back,” he said.

“We’re going to do everything we can to get people out of these really serious traps they find themselves in.”

“People aren’t able to take mortgages on these properties. They can’t sell them; that’s a terrible outcome and absolutely devastating for the people affected.”

Ultimately, the CMA is pushing for a change in the law, which will make it a legal requirement for property developers to provide clear, complete, and consistent disclosures of the terms and conditions attached to all leasehold contracts.

In addition, ground rents should be reduced to zero, and heavy restrictions should be placed on the sale of new leasehold properties across the board, according to the CMA.

Growing government support

Echoing the concerns of the Competition and Markets Authority, the Ministry of Housing, Communities, and Local Government reaffirmed its commitment to swift and extensive reform for the benefit of buyers.

“In the past two years, the government has taken more action to stop unfair leasehold practices than ever before. This includes reducing ground rents to a peppercorn and banning the sale of new leasehold houses,” it said in a statement.

“But we know more needs to be done to support leaseholders, and the CMA report echoes our commitment to bring forward legislation to reduce ground rents to zero for future leases.”

Section 21 Controversy Continues as Government Promises Reform

You would be forgiven for thinking that in this day and age, private landlords would have to have a good reason to evict tenants. For an alarming number of private tenants across the UK, this sadly isn’t the case.

Recently highlighted by a BBC report published following a nationwide survey, landlords across the UK continue to use the controversial ‘section 21’ allowance to evict tenants from their homes.

Specifically, Section 21 of the 1988 Housing Act provides private landlords with the right to evict tenants at the end of their current contract, without any specific reason for doing so. They must simply provide two months’ notice of their “intention to evict,” with the tenants being given no say in the matter.

Section 21 exists primarily to provide landlords with the opportunity to evict problematic tenants or those that have fallen behind on their rent payments. Increasingly, landlords are using the Section 21 clause to evict tenants to subsequently sell or let out their properties at a higher price.

Lives in landlords’ hands

The report from the BBC clearly illustrated the effects Section 21 is having on those affected by the controversial clause. One of them was a young family from Weston-Super-Mare, who, after 12 years of tenancy with a private landlord, were handed two months’ notice.

Despite having never missed a rent payment, the Palmers were informed they would have to leave their home.

Having run into multiple hardships over the past few years, the family now fears it will be left homeless. Redundancy and serious illness took a severe toll on the family’s credit rating, resulting in potential private landlords demanding several months’ rent upfront as security. This is money the family simply doesn’t have, putting them at immediate risk of homelessness when their current landlord’s Section 21 notice is enforced.

Like many other families facing similar scenarios, the Palmers expressed their shock at the extent to which so many lives are in the hands of landlords across the UK.

Promised reforms

It’s estimated that last year alone, the so-called “accelerated procedure” for evicting tenants resulted in more than 8,100 repossessions. In all instances, no court hearing was necessary, and the case of the tenants evicted was not heard at a formal legal level.

While some are calling for the rules to be changed to ensure private tenants are given at least six months’ notice prior to no-fault eviction, others believe the system as it exists should be scrapped in its entirety.

Speaking on behalf of the Law Society, Simon Davis directly cited the Section 21 clause as “one of the leading causes of family homelessness in the UK.”

Subsequently, the government has outlined plans to ban no-fault evictions in their entirety in England and Wales. There is currently no specific date as to when the new policy will come into force or the extent of the exclusions that will allow landlords to continue evicting tenants at relatively short notice.

What is Right to Buy?

If you live in a council house or a housing association property of any kind, now could be the perfect time to purchase your home. The government’s Right to Buy scheme provides qualifying tenants with the opportunity to purchase the properties they live in at a significantly discounted rate.

As of April 6, 2019, the maximum discount available under the Right to Buy scheme was increased to £82,800, or up to £110,500 for qualifying properties in London.

For more information or to get your application underway, contact a member of the team at UK Property Finance today.

Why should you buy your home?

Eligibility under the Right to Buy scheme qualifies you for a once-in-a-lifetime price reduction on the property you live in. As much as £82,800 (or £110,500 in London) could be subtracted from the market value of your home, making it a far more affordable purchase. If buying a property through conventional channels isn’t an option, homeownership through the Right to Buy scheme could be well within reach.

Your home has the potential to be the single most valuable asset you will ever own. Right to Buy provides the opportunity to step on the property ladder for the first time while also providing the freedom to alter and improve your home in any way you like.

While there are significant responsibilities to homeownership, it nonetheless proves enormously beneficial for the vast majority of tenants who use their Right to Buy privileges. Eligibility for Right to Buy was recently relaxed from five years’ tenancy to just three years, resulting in tens of thousands of new tenants becoming eligible for the scheme.

There is currently no housing purchase programme in the UK that provides anything close to these kinds of discounts. The price reduction of up to £82,800 (or £110,500 in London) could make your home more affordable than you think.

If you believe you may be eligible for the Right to Buy or have any questions on how the programme works, reach out to a member of the team at UK Property Finance today or use our UK mortgage calculator to work out exactly how much a mortgage would cost you.

Right to buy scheme history

Far from a new programme, the UK government introduced the Right to Buy scheme in 1980. However, significant changes have been implemented over the years, relaxing eligibility requirements and significantly increasing maximum discounts.

Previously, the maximum discount available on a property was just £16,000. Now increased every April to compensate for inflation, the maximum discount now stands at £82,800 across England (£110,500 in London). Lower discounts of £24,000 and £8,000 are available in Northern Ireland and Wales, respectively.

Whether you’re ready to go ahead or simply considering the option of buying your property, we’d be delighted to hear from you. Contact a member of the team at UK Property Finance anytime for an obligation-free consultation.

Helpful Advice That All First Time Buyers Should Be Aware of

Buying a home for the first time can be both exciting and daunting in equal measure. Most first-time buyers have little to no knowledge or experience with the property market and therefore do not know where to start. We recommend using our mortgage calculator in the UK to work out exactly how much purchasing a home would cost you.

Worse still, conflicting information and advice only stand to further complicate the whole thing.

Getting on the property ladder is never easy, but the process can be simplified with a few common-sense guidelines. From those who know the property purchase process better than most, here are a few helpful pointers all first-time buyers should be aware of:

1. There are schemes that could save you a fortune.

First and foremost, it is important to leverage any existing schemes or incentives you may be eligible for. Examples of these include Right to Buy and Help to Buy, which, depending on your circumstances, could save you a small fortune on the market value of your home.

2. Establish your budget in meticulous detail.

Working out how much you can afford to borrow means taking into account your current outgoings, your lifestyle, and your financial future. It also means ensuring you leave yourself with a little room to manoeuvre, rather than pushing your finances and your budget to breaking point.

3. There are mortgages beyond High Street.

Depending on your requirements and circumstances, you could be better off working with an independent lender away from the High Street. From poor-credit first-time mortgages to competitive Right to Buy mortgage deals and so on, there’s an extensive network of lenders to explore beyond the usual major banks.

4. Comparison sites are far from comprehensive.

Carrying out an initial online mortgage comparison can be useful. However, the average online mortgage comparison site is not quite as comprehensive as it appears. If you want to gain access to the best deal in the UK from the most dynamic network of lenders, speak to an independent broker for advice. Before doing so, ensure the initial services they provide are offered 100% free of charge.

5. With deposits, bigger is better.

If there is any realistic way of pulling together a larger deposit, do it. Along with simplifying the process of qualifying for a mortgage, bigger deposits also pave the way for better deals. Simply by increasing your deposit from 15% to 20%, you could qualify for a much lower rate of interest and save a small fortune over the life of the loan.

6. Interest rates are not everything.

Last but not least, it is vital to remember that the overall costs of a mortgage extend far beyond interest rates alone. You will also need to factor in arrangement fees, administration fees, valuation fees, legal fees, closure fees, and (in some instances) early repayment fees. All of which should be considered carefully when evaluating how much you need to borrow and how much you can comfortably afford.

Whether you are ready to go ahead with a first-time buyer mortgage application or simply considering the available options, we are standing by to take your call. Contact a member of the team at UK Property Finance anytime for more information.

 

Personal Data Security Practices Remain Substandard, Officials Warn

The recent introduction of the General Data Protection Regulation (GDPR) and the Data Protection Act 2018 are apparently having little to no bearing on the personal data security practices of many organisations in the UK. Particularly where insolvency is concerned, practitioners and FCA-authorised firms are still breaching even the most basic and important data protection guidelines.

This week, a joint statement was issued by the FCA, the FSCS, and the Information Commissioner’s Office (ICO) to reaffirm the importance of heightened responsibility when dealing with personal data. The statement outlined apparent widespread data security malpractice, with an emphasis on businesses attempting to unlawfully sell the personal data of their clients to claims management companies (CMCs).

Instances of unlawful personal data sales and distribution (both before and after a firm has gone into administration) are rife, claims the report from the regulators. The statement warns that by distributing personal data without the legal consent of those it concerns, they may be breaching the terms of both the General Data Protection Regulation and the Data Protection Act 2018.

All direct communications carried out by claims management companies could also be a direct violation of the Privacy and Electronic Communications Regulations 2003 (PECR).

The regulators promised to take action against those found to have breached any applicable data protection laws and policies, encouraging those who may be doing so to revisit and reconsider their practices and policies.

A widespread public problem

Meanwhile, the UK’s data protection regulator has come under heavy criticism for failing to sufficiently protect the public from the risks of behaviour advertising, e.g., remarketing or targeted ads, which are ‘systematically’ breaking data protection and privacy laws.

Warnings were issued last summer that the growing AdTech (advertising technology) industry is already out of control, though little action has been taken to turn things around. The Information Commissioner’s Office previously agreed that real-time bidding (RTB) systems used in online advertising may be accessing and using people’s private information unlawfully.

 “We have reviewed a number of justifications for the use of legitimate interests as the lawful basis for the processing of personal data in RTB. Our current view is that the justification offered by organisations is insufficient,” commented Simon McDougall, the ICO’s executive director of technology and innovation.

 “The Data Protection Impact Assessments we have seen have been generally immature, lack appropriate detail, and do not follow the ICO’s recommended steps to assess the risk to the rights and freedoms of the individual.”

 “We will continue to investigate RTB. While it is too soon to speculate on the outcome of that investigation, given our understanding of the lack of maturity in some parts of this industry, we anticipate it may be necessary to take formal regulatory action and will continue to progress our work on that basis.”

Banks Warned as Mortgage Prisoners Promised Help by the Government

Britain’s six biggest lenders have come under fire from ministers this week as the row regarding thousands of ‘mortgage prisoners’ continues to escalate. Treasury ministers issued an open letter accusing the banks of failing to help hundreds of thousands of struggling borrowers get a fair deal on their overinflated mortgages.

Britain’s six biggest lenders have come under fire from ministers this week as the row regarding thousands of ‘mortgage prisoners’ continues to escalate. Treasury ministers issued an open letter accusing the banks of failing to help hundreds of thousands of struggling borrowers get a fair deal on their overinflated mortgages.

New rules were introduced by the UK’s financial watchdog in October last year, designed to simplify the process of switching to a cheaper mortgage for those affected. Four months down the line, no decisive action whatsoever has been taken by any of the six leading lenders in the UK:

Even more worryingly, the new rules will result in only one in 12 so-called ‘mortgage prisoners’ benefiting from a lower-rate deal.

Half a million homeowners were affected.

It is estimated that around 500,000 homeowners across the UK were affected by the sale or transfer of their mortgages to unregulated or inactive lenders in the wake of the financial crash. This subsequently resulted in their mortgages being taken over by a fund or company that cannot or will not offer them a remortgage.

Unable to get a better deal with their loan provider and unable to switch to a new lender, these borrowers have become ‘imprisoned’ by excessively expensive mortgage deals they simply cannot afford. The FCA announced new rules in October last year that would make it easier for those affected to switch to a better deal, but so far nothing has happened.

None of the six biggest lenders in the UK have altered their affordability rules to accommodate those looking to switch to a more affordable mortgage. The government has therefore once again demanded that urgent action be taken by the country’s leading banks to comply with the new rules outlined by the FCA.

‘I have discussed this with Andrew Bailey, chief executive of the FCA, and he is in agreement that these eligible borrowers should have the opportunity to access cheaper deals with new lenders,’ read the open letter written and published by the economic secretary to the Treasury, John Glen MP.

‘Now that the FCA rule changes are in effect, I expect as many of your members as possible to move quickly to offer new deals to this group of eligible borrowers.’

 

Would the changes actually help?

The FCA has predicted that approximately 170,000 of these ‘mortgage prisoners’ will be able to reduce their mortgage payments by seeking a better deal from a new lender. Unfortunately, the FCA also estimates that no more than around 14,000 of these borrowers will benefit from the new rules and regulations, should they be implemented.

In total, around 156,000 of the borrowers affected have mortgage debts that exceed the market value of their home. As these borrowers are, in effect, in arrears, they would not be eligible for a new mortgage or a remortgage with most lenders.

Independent expert advice

If you have any questions or concerns regarding your current mortgage obligations or your eligibility for a competitive remortgage deal, we’re standing by to help.

Contact a member of the team at UK Property Finance anytime for an obligation-free consultation with a member of the team.

Subprime Mortgages Make A Return

Simply mentioning the words ‘subprime mortgage products” is enough to incite painful memories of the 2007 financial crisis. Prior to 2007, many mortgage lenders in both the United Kingdom and the United States were underwriting loans with minimal checks and, as such, agreeing loans for a wide range of applicants, some of which were completely inappropriate.

The poor underwriting standards initially arrived in the US but were soon implemented in the UK and many other countries as the majority of US lenders expanded around the globe.

It was this excessively risky approach to lending that was credited with fuelling the resulting crash; however, in the years that followed, regulators and mortgage lenders implemented new policies and procedures to prevent history from repeating itself.

The result is a much stricter lending approach and more regimented underwriting processes, making it increasingly difficult for borrowers with imperfect credit to obtain mortgages.

An unexpected turnaround

The 2007 financial crash had no real impact on the number of people looking to purchase homes, so those with imperfect credit were left stranded as the subprime lenders responsible for the irresponsible lending practices quickly exited the market in 2007. The remaining void is being gradually filled by a growing number of specialist UK-based lenders, and now, even if you were declared bankrupt just one year ago, you could still qualify for a mortgage today.

As competition grows among subprime mortgage lenders, interest rates and borrowing costs are also falling. A few past missed mortgage payments are no longer guaranteed to prevent you from gaining access to the mortgage market, and neither is the presence of CCJs on your credit file.

Subprime mortgages: A brief definition

The term ‘subprime’ is a relatively broad term that generally refers to anyone with a credit history considered below acceptable norms. Specifics vary significantly from one lender to the next, but a subprime borrower is always characterised as an applicant who would not qualify for a mainstream mortgage.

Some banks refer to subprime borrowers as ‘adverse or bad credit’ applicants, but the meaning remains unchanged.

One of the few areas where most banks now agree relates to the somewhat outdated nature of the terminology. The UK mortgage market has changed exponentially since 2007 and continues to evolve at a rapid rate. As credit scores become increasingly involved in the decision-making process, the more forward-thinking banks are looking to see the entire category reclassified to the term “specialist lending’. Rather than penalising anyone with an imperfect credit history, they would like to see more factors taken into consideration. Work out how much a mortgage would cost you using our mortgage calculator. UK

Learning from mistakes

The fact that subprime mortgages are once again available does not indicate that the market is again out of control. In fact, quite the opposite. Most lenders continue to impose robust and extensive checks when assessing eligibility for all mortgage products.

What makes today’s lending landscape different from 2007 is the way in which credit history is only one of the deciding factors used by the UK’s specialist lenders.

Regulation imposed by the Financial Conduct Authority and the Prudential Regulation Authority since the financial crash has made it all but impossible for banks and lenders to irresponsibly underwrite. Some products that were widely available before the crash, such as self-certified mortgages, have now been completely erased from the market.

Mortgage lenders are increasingly focusing on proof of provable income, existing debts, and monthly outgoings. They have also provided a general stress test in order to approve applicants (or otherwise) for home loans. As a result, borrowers with a poor credit history who are nonetheless in a strong financial position at the time of application are not automatically discounted from mortgage borrowing.

Is a disaster waiting to happen?

Critics argue that the resurgence of the subprime mortgage market represents a disaster waiting to happen. They claim that any approach to subprime lending flies in the face of responsibility on the part of British banks and lenders. They also believe that what is happening now has echoes of the years leading up to the 2007 financial crash.

Arguments like these entirely overlook the fact that the mortgage lending sector in the United Kingdom is more restricted today than it has ever been. Even if the UK’s biggest banks wanted to engage in risky mortgage lending activity, they’d be prohibited on a legislative level.

 “The mortgage industry has successfully implemented regulatory and other safeguards to guarantee that their customers borrow only what they can afford to repay,” read a recent statement from the trade association UK Finance.

 “2014’s Mortgage Market Review banned self-certification mortgages, tightened the rules around interest-only mortgages, and required affordability to be checked more stringently.”

For the time being, therefore, there is no direct evidence to suggest that another ‘subprime’ lending crisis is on the horizon. If anything, it remains disproportionately difficult for consumers with an imperfect credit history to qualify for a mortgage, and in the eyes of most major banks and high-street ‘lenders, ‘subprime’ borrowers continue to represent a risky investment that they will not accommodate.

A small victory for common sense

Consumers with imperfect credit have always argued that credit scores provide a flawed overview of a person’s financial status and activities. You could have a terrible credit score yet be sitting on a personal fortune of millions.

You could also have made a few minor mistakes years ago, but you have conducted your finances in an exemplary manner since.

Blemishes on your credit report currently remain visible for six years. Irrespective of your financial status and subsequent responsibility, it is evident for that period. Thankfully, some of the UK’s more dynamic lenders accept these flaws in your credit rating, provided other areas of your finances are being handled correctly.

Most lenders are still afraid to use the term subprime mortgage but readily accept applications from those with ‘imperfect’ credit or borrowers looking to improve their credit score.

The largest and most established UK mortgage lenders, however, are still, for the time being, steering clear of subprime lending entirely.

A market of growing relevance

The market for subprime mortgages in the UK currently exists as a strictly ‘not on the High Street’ lending channel. You cannot simply walk into a branch of a major lender with poor credit and expect to be offered a mortgage deal. They would be unlikely to offer you any kind of credit facility, so major loans and mortgages would definitely be out of the question.

UK subprime lenders continue to operate primarily in the specialist lending sector and are typically accessed through a specialist broker. Subprime products and services are tailored to meet the unique requirements of the individual borrower.

Even with a heavily damaged credit score, all applications are considered on merit. Imperfect credit often equates to higher overall borrowing costs, but it is still perfectly possible to access a competitive deal. With some consumers struggling to maintain perfect credit scores, subprime mortgages are becoming increasingly relevant in the UK. Working with a specialist mortgage broker means gaining access to an extensive ‘alternative’ loan market that is not generally available on the high street.

Getting a Mortgage on Maternity Leave

Maternity leave can be a challenging time in life, during which expectant mothers face a variety of unique and ongoing challenges. It can also be a time during which it is more difficult than normal to successfully qualify for credit.

When approaching maternity leave, it is common to experience the following concerns:

  • Will maternity leave affect your eligibility for credit?
  • Do you have to tell your lender you are on leave?
  • How much can you borrow on maternity leave?
  • What if you are a self-employed worker?
  • How will additional credit issues impact your eligibility?
  • What kind of deposit will I need to pay?
  • Which other factors are considered by lenders?

At UK Property Finance, we offer specialist advice and support for borrowers both approaching maternity leave and already off work. For more information or to discuss your requirements in more detail, contact a member of the team for an obligation-free consultation.

Does maternity leave affect eligibility for a mortgage?

The short answer is yes, though for reasons that are not entirely justified. Most major lenders simply assume that when you go on maternity leave, you take a significant pay cut while doing so. Employers are not legally obliged to ensure you receive 100% of your salary while away from work, though some make voluntary contributions to maintain their employees’ salaries. This is not always taken into account by major banks and lenders.

Many high-street banks consider applicants on maternity leave to be higher-risk clients than typical applicants. This is because a moderate proportion of those who go on maternity leave each year do not return to full-time work afterwards. Some take on part-time work to dedicate more time to their families, while others choose not to return to work at all.

Maternity leave can affect your eligibility for a mortgage, but it is still perfectly possible to qualify for a competitive deal. It is simply a case of supporting your application with as much evidence as possible to convince the lender you are a low-risk candidate. evidence such as:

  • Proof of your intention to return to work
  • The approximate date of your return to work
  • The terms and conditions of your job
  • How many hours will you be working, and what is your salary?
  • A reference letter from your employer

Each of the above could help improve your eligibility for a mortgage on maternity leave.

Do I need to tell the bank I am on leave or going on leave?

It is not standard practice for banks and lenders to ask applicants if they are on maternity leave or approaching a period away from work. In theory, it is your obligation to ensure you tell the lender if you are pregnant or already on maternity leave. Even if doing so affects your eligibility, it is essential that you do not hide this information.

This is because doing so could invalidate the terms and conditions of your loan agreement and render the contract void. It could also amount to the falsification of information or the deliberate provision of incorrect or incomplete information. It is almost certain that your lender will find out you were pregnant and/or on maternity leave, at which point you could face problems.

Policies and criteria for eligibility vary significantly from one lender to the next. Irrespective of how it may affect your application, you must let your lender know that you are pregnant and/or on maternity leave.

How much can I borrow if I am on maternity leave?

Your maximum allowance will be calculated in roughly the same way as any conventional mortgage. The lender you apply to will consider various criteria when determining how much you can borrow, including but not limited to the following:

  • Your current annual salary
  • Your reduced salary while on leave (if applicable)
  • Your general financial position
  • Your current debts and outgoings
  • Your intentions for the money
  • The size of the deposit you provide
  • Your recent credit history

Your eligibility and the amount you are able to borrow may also be influenced by your partner’s financial status if you are applying for a mortgage together. In some instances, the second applicant’s strong financial position and good credit history can compensate for issues and oversights on the part of the other applicant.

There are no specific limitations as to how much you can borrow. Depending on the lender you work with, you may be offered anything from 3X to 6X your annual salary. In the case of joint applicants, this could be up to six times your combined annual earnings. You will also gain access to larger loans by offering a larger deposit where possible.

What if I am self-employed and on maternity leave?

Many major banks and lenders throw additional obstacles at self-employed applicants. This counts double for self-employed individuals also on maternity leave, who may find their applications particularly heavily scrutinised.

Supporting your application as a self-employed worker means providing as much evidence as possible of your strong financial performance, your responsible financial history, and the fact that you intend to return to work. If you are a sole trader, it can be difficult to prove your future intentions. If you run a larger business with other employees, lenders may assume your income and employment status will not be adversely affected by your maternity leave.

Underwriters often make it difficult for self-employed workers to qualify, but not impossible. It is nonetheless important to ensure you target only the most appropriate lenders for your case. If you are self-employed and on maternity leave, it is highly unlikely that your application will be accepted by a mainstream bank or lender.

Can I get a mortgage on maternity leave with bad credit?

Bad credit alone is enough for most major lenders to deny mortgage applications. It is comparatively rare for any mainstream bank to even consider applicants with poor credit. As you are also on maternity leave, you have very little chance of qualifying for a mortgage with a typical high-street bank.

This is why it is important to ensure you direct your applications to specialist lenders who consider clients on the basis of their overall financial position. Having bad credit and being on maternity leave do not necessarily make you a higher-risk applicant. If you are in a strong financial position and can comfortably afford the repayments on your mortgage, there is no reason why you should not qualify.

Every unsuccessful application you submit to a major lender could inflict more harm on your credit history. That is why we strongly suggest carefully considering your credit score and your overall financial status before applying for a mortgage.

No matter how challenging your position may be, we can help. Even if you have been turned down for a mortgage elsewhere, there is a good chance you will find the help you need from an independent, specialist lender. At UK Property Finance, we provide a whole-market brokerage service for applicants from all backgrounds. With our help, you will find it quick and easy to find the perfect mortgage to suit your requirements and your budget. Contact a member of the team at UK Property Finance anytime to discuss your requirements in more detail. Work out the costs of a mortgage using our UK mortgage calculator.