More brokers should rethink their ‘impossible’ cases, says specialist mortgage distributor AToM (All Types of Mortgages).
The firm says that one of those it deals with, GE Money Home Lending, accepts seven out of ten customers, including those rejected by high street banks, and caters for a range of needs such as the self-employed, first-time buyers and customers with a credit blip. The lender will also consider customers who have had a historic debt management plan.
Dale Jannels, managing director at AToM said: “We have worked closely with GE Money for a number of years.
“With rates starting from 3.99% and up to 80% LTV for FTB and self-employed customers, I am constantly surprised that more brokers are not aware of what they could do for their clients.
“All too often, brokers turn such business away, when in fact it’s just as simple to arrange as a normal mortgage. We’re seeing a huge increase in demand for this type of business.”
Mark Snape, GE Money home lending sales director, said: “I want 2013 to be the year that brokers are made aware of the choices their clients have, instead of depending on high street lenders.”
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