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| Getting
a mortgage after bankruptcy is not impossible and MORTGAGES 4 U LTD has access
to lenders who are willing to offer mortgage loans to people who have been declared
bankrupt in the past. |
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| It is
important to realize, however, that lending to discharged bankrupts is higher
risk and as a result the lenders have to take measures to protect themselves.
This generally results in higher interest rates for the borrower or a decreased
Loan-to-Value (the percentage of the property value the lender is willing to loan),
or possibly both. |
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| The plus side
is that getting a mortgage is one of the first steps towards rebuilding your credit
history and your life, and in some instances we have lenders who will need only
12 months of good mortgage repayment history before you may qualify for lower
interest rates. Please note that by remortgaging to enjoy the benefits of a new
lower rate you may incur early repayment charges from the lender. Details of these
will be given in a personalised illustration. |
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How Long Do I Have to Be Discharged For? |
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| In
most cases we have products available for: |
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Those who have been discharged for less than 1 year
- Those
who have been discharged between 1 and 3 years
- And
those who have been discharged for more than 3 years
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| Generally
speaking the longer you have been discharged, the more competitive the deals will
be that you will qualify for and the less deposit will be required of you by the
lenders. |
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| If
you think that MORTGAGES 4 U LTD may be able to help you secure a mortgage then
it is time you contacted us to speak to one of our experienced mortgage specialists
to get your free no obligation quote. |
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