Some people do not have the perfect financial profile for their plans and find their credit score ‘does not compute’. We aim to see the person beyond the profile and offer practical lending on mortgage affordability and credit history, not automated credit scoring.
For example, we take a common sense view on missed payments and defaults, allowing the occasional missed payment on a phone plan or a credit card over three months ago on prime lending.
Our new build offering now goes up to 90% LTV, including:
- First time and next time buyers
- Gifted deposits
- Joint Borrower Sole Proprietor
- Guarantors
- A common sense approach to credit history*
- Guaranteed income, overtime and bonuses considered in affordability
- Applicants with little or no credit history
*You can see our credit criteria on prime on page 2 of our Versatility guide, which can be downloaded from the Guides and Downloads page on our website, and shows our criteria for missed credit card payments, phone plans, etc where we can accept the occasional missed payments over 3 months ago.
Not only that but we can also be flexible on income and can allow applicants to use 50% of regular bonus, commission and overtime payments. We can also take a common sense view of self-employed applicants with 2 years’ history up to 90% LTV on new build.
Check affordability and get in touch
If you have a client that needs a versatile approach to lending, check our affordability calculator on our website or give us a call.
For more information about our products and services, including applying through our online portal, call us on 01623 904601 or visit our website at mansfieldbs.co.uk/intermediaries.
