If you have an adverse credit history and are concerned about whether or not you can secure a conventional buy-to-let mortgage, at LDNfinance we help property investors with poor credit scores secure bridging finance from agile lenders with the necessary risk appetite.
Adverse credit issues such as county court judgements (CCJs), late payments or defaults, can have a negative impact on bridging finance applications. That is unless you use an experienced, knowledgeable bridging finance broker with a network of specialist and private lenders that either do not do a credit score or can see beyond your history of bad credit and lend based on the value of the property used for the loan. At LDNfinance, our well-connected brokers have a proven track record in obtaining adverse credit bridging, typically up to 80% of the value of the property you wish to purchase.
Our personable, well-connected brokers will sit down with you to understand your unique personal and financial circumstances. Your nominated LDNfinance broker will walk you through the bridging finance application process and let you know the information and documentation prospective lenders will require based on your adverse credit history, which may include mortgage arrears or CCJs.
Closed or open bridging loans for applicants with adverse credit histories
Given our extensive network of niche and private lenders, many of which are not available on the high street, we can hand-pick prospective lenders that are prepared to look past previous defaults and arrears. Some adverse credit bridging lenders will require other assets to be nominated for security, including high-value items and business equipment.
Your nominated LDNfinance broker can arrange a closed or open bridging loan. The former has a specified repayment date, while open bridging loans do not, but are expected to be repaid before the loan period expires. Most bridging finance lenders will demand a watertight exit strategy for applicants with adverse credit histories. This must be practical and easily achievable in the eyes of the lender. Your LDNfinance broker can work with you to design an exit strategy to repay the loan and is mutually beneficial to both you and the lender.
Let’s discuss your next exciting property investment opportunity and arrange a bespoke bridging finance solution that considers your adverse credit history.