Some people can't grasp the import of large sums of money. They take months to buy a hoover, but get a £120,000 sub prime mortgage on a whim. It's a buzz! Reason goes out the door. They may have been in a dead-end job before, and now they're going to realise their dream, by jingo!
It's understandable. There's a certain amount of romance, if you're a first-time buyer, or an entrepreneur. You've got your redundancy money, and now the future beckons. You're excited, the wife is excited, the kids are jumping up and down.
Now is the time to get out pen, paper and calculator and do some mathematics. What's the worst that could happen? Do you have a back-up plan? Do you have health insurance, some money put away for a rainy day, is the kids education secured?
The first step in the hunt for a sub prime mortgage lender UK is to work out how much you can afford to borrow based on your income and your outgoings. It is always worth making a few calculations, with a mortgage calculator, as your finances vary from time to time, as do the interest rates payable. It makes sense to see how much, or how little, you can afford to borrow before doing more sub prime mortgage lender UK research.
The best thing for you to do when applying to a sub prime mortgage lender UK is to talk to their loan officer regarding the types of mortgages available and the options you qualify for. This way, you'll have a better idea of what's available and then you can make an informed decision.
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Choose a sub prime mortgage lender UK with a clean record with the industry watchdogs. The mortgage industry receives a great number of complaints against it. In the UK, mortgage companies must have a licence from the Financial Services Authority (FSA).
A sub-prime mortgage lender is easy to find. However, not all of them may suit your needs, as there are several factors to be considered when applying on the financial market today. I hope these short tips help you in the process of deciding which one suits your needs the best.
The best sub prime mortgage lender UK is easy to find. Just go to one of those sites offering to compare 100, 200, or 1098 different sub prime mortgage lenders UK.
The trick is finding the best sub prime mortgage lender UK deal for you, given your circumstances. Also, they may sell on your contact information.
If you're searching via the 'net, chances are you have bad credit, or a CCJ. That's just been my experience. The company I've affiliated with can offer a good sub prime mortgage lender UK deal to people with a bad credit history. In fact, they like that sort of deal, because they can make more money from it.