WELCOME TO FIRST UNION, YOUR 1st CHOICE FOR
MORTGAGES, REMORTGAGES & LOANS
FAST... FRIENDLY...EFFECTIVE...
- Consolidating debts or credit cards, moving home, buying a car or doing homeimprovements. Our friendly and efficient service helps you find the remortgage or loan* you want - fast!
- We treat our customers as individuals with different circumstances and needs. Poor credit record, high loan to value needed, current deal fixed period ending, banks or building societies won't help. Whatever your situation, First Union is here to help you.
- You'll get a fast decision and first class service from the moment you contact us through to receiving your funds.
Think carefully before securing other debts against your home. Consolidating debts in to one
loan may cost more in the long term. Your home may be repossessed if you do not keep up repayments on your mortgage.
The overall cost for comparison is 5.3% APR typical for mortgages and 20.9% typical for secured loans*.
The actual rate available will depend on your circumstances. Ask for a personalised illustration.
A broker fee is charged but only on completion and is typically £1,000 to £3,000. * Secured loans are not regulated by the Financial Services Authority
© 2009 First Union Mortgages Ltd.
Adverse Remortgage and CCJ Mortgages
If you are a homeowner looking to refinance your mortgage you might find the task more difficult and confusing than you thought. Because of the number of financial institutions serving the homeowner market in the UK, securing the right mortgage loan can be challenging. Getting the best possible Refinance Mortgage Loan or Home Improvement Loan for your circumstances is like looking for a needle in a haystack
One way to get a clearer picture is to investigate arranging a remortgage by accessing the First Union.co.uk website. First Union may be able to arrange a competitive deal for your circumstances. And because First Union can often give you a decision in principle within hours and pride themselves on the speed with which they can complete the mortgage or loan with the Lender, they can often provide a rapid solution for your situation. The remortgage or loan can be used for many purposes; for Home Improvement, loan the money you need at a comparatively low interest rate for your circumstances; solve your debt problems and save money with Bad Credit Remortgage Loans arranged by First Union; holiday in UK? loans are straightforward -
For more resources click here. If you searched for any of the terms adverse mortgage, adverse remortgage or ccj mortgage, mortgages then you should talk to First Union. Bad credit mortgage loans or refinancing mortgage loans usually are most suitable for applicants with a poor credit history, arrears, CCJS, missed payments and the like. Credit card debt consolidation is also a common aim of people regardless of whether they have a poor credit history or not. At First Union we understand the different needs of everyone and assess each individual case accordingly. We expedite the whole process through our association with leading mortgages providers to enable you to secure the remortgage you need that suits your purposes and provides you with a fast and appropriate solution to your problems. Whether you are looking for fixed rate mortgage loans, low interest rates for your circumstances or want to refinance your mortgage, have a look at the rest of the firstunion.co.uk website and then simply call us, make an application enquiry online, or ask for a Call me Back contact from one of our Mortgage Consultants.
If you are a savvy home owner with an adverse credit history looking for a bad credit remortgage loan to reduce monthly outgoings, talk to First Union, one of the UK's leading Mortgage Brokers.
The Non Conforming Mortgage Market
The mortgage market is made up of two main sectors; the prime market and the
sub prime. The first comprises largely those groups who are in full time
employment, with a salary paid through PAYE and who have been working for
the same company for several years. The sub-prime sector covers a wide
range of people from those who are almost prime to those who are completely
sub prime; So people who are self employed, maybe on contract work or have
income from a variety of sources, usually referred to as the
'non-conforming', could be near the prime end of the spectrum. Anyone who
has credit problems of some sort even the PAYE employee who is normally in
the Prime group can be in the sector of Sub Prime known as the 'adverse'
market. This latter group includes those with what could be described as
adverse mortgages, adverse remortgage or CCJ mortgages. These are people who
have black marks on their credit record such as missed payments, County
Court Judgements (CCJs) or similar.
The prime market is looked on favourably by mainstream lenders such as high
street banks and building societies. But these lenders do not view the
adverse group with CCJ mortgages or adverse remortgages in the same light
and do not generally make them very welcome. These Lenders operate within
fixed parameters that don''t easily admit anyone who does not fit their
mould. They will tend to have little flexibility to accommodate such people.
You will be paying a higher rate of interest than those in the prime market
if you have a sub prime mortgage whether it's an adverse remortgage or CCJ
mortgages. Many people nowadays fall into this area because remortgaging to
pay off expensive debts such as store cards, bank loans or credit card
balances is very common and people with high levels of unsecured debt can
fall into the adverse credit area. Is there something you can do to improve
your position in the future? For the non conforming lender many of the
issues that cause them to be categorised as such will be resolved by the
passage of time and the establishment of a track record accepted by the
lender. For those with adverse mortgages, adverse remortgage or CCJ
mortgages improving your credit record is one strategy. Keep payments on
your mortgage, credit cards, utilities, mobile phones and the like up to
date and close old accounts that you no longer use. If you have a CCJ
mortgage ensure the CCJs are satisfied as soon as possible and when
satisfied are removed from your credit record once the time period (usually
six years) has elapsed.
It will pay to check your credit record with one of the big credit
referencing agencies such as Experian or Equifax. They frequently offer a
free check. If you have any expired judgements such as CCJs you can ask for
them to be removed from your record, or if you disagree with an item ask for
a note to be attached.
An adverse remortgage needn't necessarily be wildly more expensive than a
prime mortgage. The term covers a host of different people and it will
depend where you fall within the spectrum. Someone who has a couple of
missed payments could well be considered 'near prime' and pay a rate almost
as a good as that obtainable for a prime borrower. As your credit record
gets worse, from lots of arrears, through CCJs even as far as IVAs or even
bankruptcy, lenders will adjust their interest rates and fees to reflect
their greater risk. But as time goes by and your credit performance
improves, you may be able to do a new deal, removing you from whatever
sector of the adverse remortgage or CCJ mortgage market you are in to one
nearer to prime levels.