From our impartial advice to our flexible approach, here at Pinnacle we have an offering that is tailored made for you. Each of our equity release advisers are fully qualified and have a wealth of industry experience.
We have access to the full lifetime mortgage market, which allows us to match you with your ideal equity release package. We understand that it can feel quite daunting & overwhelming when trying to figure what is the best option to take, but you can trust that our dedicated team of adverse credit mortgage experts will provide clear advice throughout and be there with you every step of the way.
Mortgages for Adverse Credit
Finding a mortgage when your credit is bad isn’t easy, but at Pinnacle, we’re here to assist you in finding the best mortgage possible to match your financial situation. To talk to us about bad credit mortgages, contact us today. One of our expert team can provide you with transparent advice and lay out your mortgage options for bad credit.
Why use Pinnacle?
Whatever the situation of your credit score, we will do our best to find you a mortgage deal that is right for you.
As with regular mortgages your credit situation will be assessed, with the outcome dependant on the product that you would be offered. We can still place loans with active defaults, CCJ’s, or debt plans, and have a variety of lenders to work with.
A secured, or second charge, loan is an additional mortgage placed on the property behind your main mortgage. It is with a separate company and can be independent of your main mortgage’s terms. They often offer a flexible borrowing capacity for when it may not be possible on your main mortgage.
Consolidating debts is often a primary reason for applying for secured loan and is more than acceptable. You will need to consider the level of debt that you are consolidating and take in to account that this may now be spread over a longer term, or moving from sole name to joint (depending on the ownership of the property).
A secured loan is often arranged quicker than a first charge mortgage. A lender will still need to assess your application and validate the property value, but assuming this is all successful you should expect to receive your funds within 1-2 weeks from loan offer.
This depends on the available equity in your home. Typically a secured loan can be arranged up to 85%-90% of the overall value of the property (minus your current mortgage).
Secured loans offer the ability to reach the equity that may be in your home. You must consider the overall exposure with your current mortgage and calculate the difference between this and the market value. The difference can then be considered to be released, should you need.