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There are over 100 mortgage lenders in the UK including MBS Lending Ltd. Mortgage Lender .co.uk will help you make the right choice.
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MBS Lending Ltd
This organisation is a subsidiary of the Melton Mowbray Building Society and offers specialist mortgages for customers who may have experienced credit difficulties in the past. A mortgage offer may be considered even if you have had a non payment of mortgage, credit card or other lending facility in the last twelve months. You should be aware that the interest rate you pay may be higher than traditional Banks or Building Societies but this is an accessible mortgage product for many people.
Customers who may have previously been subject to a repossessed property, discharged bankruptcy proceedings, IVA's and County Court Judgements can all be accepted after a specified period of time. This lender will also approve mortgage products for groups of friends who wish to club together and buy a property suitable for sharing.
Products available include
- Near Prime Plus
- Near prime
- Light Adverse
- Medium Adverse
- Heavy Adverse
- Heavy Plus
The interest rate that you will pay will depend upon the product you choose. If you have a low credit rating due to previous financial difficulties then MBS Lending may be able to help. An Early Repayment Fee of 6% will apply if you choose to pay all or part of the outstanding mortgage loan amount during the initial lending period.
MBS Lending Ltd Mortgage Products
Near Prime Plus mortgages: will accept customers who have missed one mortgage payment within the previous twelve months (but not in the last three months). This product also allows County Court judgements of up to £500 in the last two years. Customers with IVA's are not accepted. If you have been subject to a property repossession within the last five years you will not be accepted.
Near Prime mortgages: will accept customers who have missed two mortgage payments within the last twelve months. County Court Judgements up to £1,500 within the last two years may also be accepted. Customers who have had an IVA that has been satisfied for over three years can also apply.. If your property has been repossessed within the last three years you will not be accepted.
Medium Adverse mortgages: will accept customers who have missed three mortgage payments within the last twelve months and one missed payment within the last three months. County Court Judgements of up to £6,000 within the last two years may also be accepted.
If you are interested in a mortgage quotation including those offered by MBS Lending Ltd please complete our quick enquiry form.
MBS Lending Ltd Mortgage Rates
|Mortgage Type||Initial Rate||Subsequent Rate||APR||Max LTV||Fees & Charges||Enquire Now|
|2yr Near Prime Plus Rate||7.5% Variable||7.5% Variable||6%||50%||£1,895 Completion Fee, £150 Application Fee|
|2yr Near Prime||7.75% Variable||7.75% Variable||6%||50%||£1,895 Completion Fee, £150 Application Fee|
|2yr Medium Adverse||8.5% Variable||8.5% Variable||6%%||50%||£1,895 Completion Fee, £150 Application Fee|
Speak to a professional about a MBS Lending Ltd Mortgage