Mortgage Brokers and Advisors in the UK

With quite an enchanting and attractive image, guaranteed bad credit mortgages in the UK  always become the magnet for the borrowers from mortgage brokers like Shinemortgages.co.uk . They are still on demand because they look like the last-minute saviours for those who ever get denials. Yes, the bad credit score people. A mortgage is a big size loan, and for a person with poor credit score performance, it already sounds unachievable. What makes the property market offer a guaranteed approval thing on the bad credit mortgage? It is essential to know how things work . 1.      No lender has the rights to offer a guaranteed approval Few things are for only promotional purposes to catch the attention of the borrowers. Let us all confront reality. The lending market is restricted in many rules made by the regulatory authorities. Technically and ethically, no lender can ever offer guaranteed approval . Especially when it is about the applicants with imperfect payment record

A mortgage and that too without a deposit?? Sounds impossible right? But something that is so much popular carries some part of reality. Same is the case with the mortgage without a deposit. However, it would be best if you do not forget that this situation demands consideration of some fundamental aspects. They are surely uncompromised in importance. What exactly lies behind the concept of mortgage with no deposit? There are two significant conditions through which you can borrow without any advance payment on a property. If the applicant can facilitate that, approval can happen. Situation 1# Savings account of the guarantor gets sealed for a particular time As guarantor is a vital obligation, it has one more important role than just backing your application in case of the loan without a down payment. The guarantor needs to keep his savings account in the authority of the lender with a 5% amount of property value in it. For example – You want to buy a house