Niche Advice Explains How Self Employed Individuals with Bad Credit can Apply for a Mortgage

Applying for a mortgage has never been easy – but for individuals who are not only self employed but who have a low credit rating as well, getting approved for a mortgage becomes more difficult. Fortunately, Niche Advice is more than willing to provide invaluable advice and suggestions to those with such circumstances.

UNITED KINGDOM – 19 Oct, 2017 – Niche Advice explains it well: “If you are self employed with a bad credit, mortgage products are going to be difficult to obtain and the chances are you have already tried and been declined by the lenders with a high street presence. Bad credit mortgages can be classed as many different things: it could be a few simple missed payments that are relatively recent; or more serious missed payments on secured loan(s); or mortgages right the way through to defaults and county court judgments (CCJs).”

But for anyone who is self employed and thinking of applying for a mortgage even with a low credit score, Niche Advice has some recommendations. As Niche Advice confirms, there are still options for those with such circumstances, especially if they know where to look.

Niche Advice’s bad credit mortgage specialist Payam Azadi explains, “The good news is at Niche Advice we specialise in getting self employed with bad credit mortgage applicants (a mortgage). I personally have helped many clients overcome the challenges of getting a mortgage, even though there has been past credit problems, and am more than happy to speak to prospective clients who have already been rejected down the high street.”

Niche Advice has a list on its own website of what prospective self-employed clients with bad credit can apply for. The options include a self employed fair credit (65%) loan to value for residential properties, with an initial rate of 1.49% and a subsequent rate of 3.99%. This product option includes a minimum deposit or equity requirement of 35%, and it includes a valuation fee (£430) and a lender arrangement fee of £999, amongst other small fees.

Another option is the self employed fair credit (90%) loan to value, which has an initial rate of 4.99% and a subsequent rate of 5.55% with a minimum deposit of 10%. This product is often ideal for those with unlimited satisfied CCJs, or those with unlimited defaults (whether or not they are satisfied). It is also ideal for those with mortgage arrears, as long as they have no adverse credit which has been registered in the past two years.

About the company:

Niche Advice is made up of mortgage specialists and it provides a personalised and independent service to those looking to apply for a mortgage in the UK. To learn more about how to acquire a bad credit mortgage, buy to let mortgage, first-time mortgage, and more, visit the Niche Advice website.   

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Company Name: Niche Advice
Phone: 020 7993 2044
Country: United States