No credit check mortgages

When you are looking for finance for your home there maybe lenders that  appear to do good deals and no credit check mortgages. Unfortunately all the program information you need is hidden in the small print.

By far the best way to save your self money and avoid expensive no credit check mortgages is to get an independent mortgage broker to help you pick the best lender for your circumstances. OK, it’s likely that the broker will charge you a fee, but this is not going to be very much compared with what you will loose if you don’t get the advice of a profession that knows the mortgage market well.

If you have an urgent need for cash, you can waste a lot of time applying for mortgages where you may get rejected. This is where the broker comes in. As long as you are honest with them about your credit history and personal circumstances, a previous experience with that lender and a good in depth knowledge of the lender s underwriting criterion will help you get the right mortgage product.

Don’t just look at the mortgage rates, look at the fees, tie ins and other small print about what you are going to be responsible.

Having a poor credit history can make getting a mortgage much more difficult now after the credit crunch so be realistic about loan to value and income multiples, and be wary that mortgages that offer self cert, no credit check, and bad credit tolerance can be much more expensive, not just in interest rates but in fees too.

No credit check Buy to Let mortgages

If you are a property investor it may be possible to get a no credit checks buy to let mortgage as long as the rental easily covers the mortgage, and the loan to value is around 60%. If the loan to value is very high, you may have a struggle getting a mortgage at all on an investment property.