Homeowners who are struggling to find a mortgage because of their financing history may be interested to know that UCB Home Loans has entered the poor credit mortgage sector.
The specialist lender, which currently offers self-certification mortgages and buy to let mortgages, has announced that it is providing up to 85 per cent loan-to-value for self-certification poor credit mortgage deals and 90 per cent loan-to-value for its status poor credit mortgage range.
For example, people who have £3,000 in county court judgements and have been up to three months in arrears with regards to mortgage or rental payments in the past will now be encouraged to apply for its self-certification or status light adverse mortgages.
Keith Astill, managing director at UCB Home Loans, explained that the mortgage lender is changing its approach by branching into the poor credit mortgage market.
"Over the past few years, we've concentrated on improving and enhancing the products and criteria for our existing markets," he said.
"We are now broadening our offering by increasing the number of markets in which we operate."
A specialist subsidiary of financial services provide Nationwide Building Society, UCB Home Loans currently employs more than 300 people at its head office in Surrey.
UCB Home Loans expands into poor credit mortgage market
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UCB Home Loans expands into poor credit mortgage market
Wed, 21 Mar 2007
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