Consolidating your existing debts into your mortgage can be an effective way of reducing your monthly outgoings and improveing your cash flow, Ocean Mortgages could help you restructure your debts into one maneagble monthly repayment. Please bear in mind by consolidating debts with a homeowner loan, could increase the amount of interest you pay overall.
Speak to an Ocean mortgage adviser on 0800 9169186
who will be happy to help you & answer any questions
you may have about part & part mortgages
If you have a history of bad debt and missed payments, obtaining a mortgage at a cheaper interest rate or getting a lower quote can be a difficult. Ocean Mortgage have speciasiled plans that cater for people with bad credit profiles, we help you search for a competitive mortgage plan suitable for your needs.
Even if you have been refused by another mortgage lender, our qualified mortgage advisers may still be able to find a mortgage solution for you.
You can use our free mortgage calculators to calculate your borrowing limits for difficult mortgages and remortgages.
When you enquiry online, we will then arrange for a qualified mortgage adviser to contact you and help you find a competitve remortgage plan, our qualified mortgage adviser will aid you throughout the remortgaging process from start to finish.
Cheap Mortgages For Home Owners -
Ocean Mortgages is the place to find remortgage rates and deals from many different mortgage lenders. Compare remortgages and look for the best remortgage deals through. Remortgage advice & news with Ocean Mortgages. Learn about remortgage pitfalls & debt consolidation, compare UK remortgages and remortgage rates online today. Ocean Mortgages are a leading UK Mortgage broker with a variety of mortgage plans available from a panel of mortgage lenders that includes high street banks, when you enquire online to Ocean mortgages you will be given access to a qualified mortgage adviser who will give you help and guidance throughout the remortgaging process and answer any questions that you may have. All mortgage quotes are FREE and the fund raised with an Ocean Mortgage can be used for almost any purpose, newer car, home improvements even to consolidate your existing debts into one manageable monthly repayments.
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Cheap Low Rate Remortgages -
Let Ocean Mortgages Help you find a cheap low rate remortgage from our panel of lenders. Enquire online no obligation free quotes
Adverse Credit Rating -
The term Adverse Credit is used to describe borrowers who have a history of unsatisfactory credit transactions. The expressions "sub-prime" and "poor credit" describe exactly the same situation. This begs a number of questions; what credit information is used, where does the information come from and how poor must a credit history be for it to be labelled as "adverse"?
It's the credit reference agencies such as Experian and Equifax which collect information about you, then process it. The credit reference agencies then supply all this information to anyone to whom you've applied for credit. They'll also credit score your data so that your lender can make a statistical decision on whether or not to grant you credit. Within this process your credit score becomes crucial.
Under credit scoring your track record is statistically assessed and awarded a number of scoring points based on your details on file. These points measure the probability that any credit offered to you will be repaid. It's based on the principle that it's possible to predict your future credit performance by analysing your past credit track record and statistically comparing that with the performance of other applicants who displayed similar characteristics. The points score then enables your prospective lender to calculate the level of risk and reduce the element of subjectivity in their lending decisions.
When is your credit history called "adverse"?
In practice it's the lenders and not the credit agencies that decide.
Each lender has their own lending policy through which they fix what level of credit risk is acceptable to them. If your total credit score reaches a certain level, then you 'pass' their credit vetting. If you don't score enough points, that lender may either turn your application down or offer to lend you a smaller amount than you had applied for or charge you a higher rate of interest. The decision is theirs. Therefore what is acceptable to one lender may not be acceptable to another. However, we can tell you some of the most significant black marks that will damage your credit score, the last two being the worst:
Arrears on your mortgage or other loans Payments that are over 30 days late on your mortgage or other loans County or High Court Judgments for debt You're not on the Voters Roll at the address you claim to live at Multiple applications for credit Recent Bankruptcy (undischarged bankrupts) Repossession Ocean Mortgages have many different mortgage providers on our panel of lenders and know what criteria they will accept, will compare your credit history against out different lenders to help you find an adverse credit rating that meets your individual needs and requirements.
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