We’ve taken time to catch up with Fasil Khan to discuss his experiences in the mortgage advice market in this current climate.
Mortgage with Bad Credit History
I arranged my first mortgage for a gentleman in somewhat difficult circumstances. The client had given up hope for getting a mortgage as he had adverse credit and a low credit score, the last time he applied for a mortgage was over 12 months ago and was unable to get a mortgage due to a lack of deposit and adverse credit.
The case had many challenges, as the client was receiving a gifted deposit from family, which had to be accounted for. Adverse credit was outstanding on his credit file and he was in a personal debt arrangement with a creditor. Due to being a previous property owner, the client also needed to show he has a proof of ‘consent to let’ for his existing property.
I explained to the client, I would try my best on getting him a mortgage and due to his credit history, the mainstream lenders would not be available and we would need to proceed with Precise Mortgages, as they were the only lender available who could consider the applicant.
After many weeks of processing this complicated and challenging case, I was successful in getting the client a mortgage. He and his wife were delighted with the outcome and have moved into their new home. He did explain he had given up hope on getting a mortgage until he met me and my reassurance, hard work and professional approach got them their dream home.
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