Buckinghamshire Building Society’s mortgage solutions have always been aimed at helping customers with complex incomes, diverse circumstances, or credit issues to purchase or remortgage their home. Our experienced underwriting team will always listen to the whole story and assess the personal circumstances of potential borrowers. This latest case demonstrates our ability to see the bigger picture.
Mr and Mrs J had an IVA that has been terminated in January 2019. They applied to the Bucks for a £140,000 remortage. Their current house was valued at £190,000
with a mortgage of £140,000, so the LTV was 74% which is above our lending criteria at 70%.
Our underwriters worked with the broker and were able to delve into the case in more detail. We ascertained that this couple had adopted a child
of a recently deceased sister in 2013. The fees associated with this life event had caused them to enter an IVA for £30,000. This one off event meant that despite
affordability concerns, the couple had no credit issues or missed payments other than the IVA. We were pleased to be able to lend them the full amount.
Do you have customers with adverse credit issues and feel you have a strong case? Why not contact us today and discuss it with one of our underwriters.
All mortgage enquiries and applications are assessed subject to a credit search and clear evidence of affordability, rather than relying on a credit score.
Did you know?
- Our underwriters have the authority to make prompt lending decisions up to £500k with no credit/risk committee
- We accept up to 70% LTV with scope for more for the right cases.
- We accept IVA’s and bankrupts that have been satisfied by application.
- Underwriter’s discretion can be taken on debt management plans, missed payments and payday loans.
For more details and information visit www.bucksbs.co.uk/intermediaries or call our team directly Tel: 01494 879517 Email: intermediaries@bucksbs.co.uk To register for BrokerOnline click here to complete an on-line registration/application.
