Non Status Re Mortgage
Are There Any Non Status Re Mortgage Lenders Left?
First thing to be sure of is that there are still non status re mortgage lenders out there. Some have perished, others have just shut up shop, but one or two providers will offer re mortgage deals only. For them a non status re mortgage is not such a risk because you are an existing borrower - usually non status borrowers need to be vetted and scrutinised before they are accepted for a mortgage. But those looking for a non status re mortgage have already proved themselves, and have a much better standing in the eyes of the lender.
Of course, if you choose a non status re mortgage with your existing lender there should be little problem. Lenders take their own records over any external sources, so if you have kept up repayments for one, two or even ten years then you should be able to secure a refinance. There are several lenders who have ceased trading recently, so if your lender is one of those unlucky few, you may still be in luck. There are schemes existing that will give borrowers of defunct non status lenders the ability to get massive discounts when moving to another lender for a non status re mortgage.
So there is still hope out there for those looking for a non status re mortgage. Many people may be put off looking for a new loan in the wake of the credit crunch, but it will just lead to more financial heartache. Not doing anything means you could end up paying a considerable amount more each month on the lenders' Standard Variable Rates. So don't let that happen - make sure you do all you can to find a lender of non status re mortgage deals.
If you are finding it difficult to find a non status re mortgage lender, maybe you need some help. A mortgage broker can search the whole of the market, including many lenders that are unavailable to consumers. Specialists like those who lend non status re mortgage deals usually only go through brokers as they understand that complicated mortgages need expert handling - handling only available from mortgage brokers. So if you cannot find a lender of non status re mortgage loans anywhere, talk to a mortgage broker and see what they can do for you.
