We often get asked who the most lenient lenders are, the answer varies and depends on you.
Before I start this article, I should let you know that I will not be naming any lenders by name.
As a broker, I tend to have a core number of lenders I refer to as a starting point for certain scenarios.
For example, if someone has some bad credit and it has all been satisfied and maybe 2-3 years old with a 10% deposit, I would make a start with 1 or 2 high street lenders. Where as if they have 15 defaults registered over the last 2-3 years, I would not really look at high street lenders.
If a client has been discharged from bankruptcy for 3 years, there would be 2 high street lenders I would go to as a starting point, which oddly differs from the lenders above with defaults.
Likewise, if someone has a lot of debt they are looking to consolidate in to their Mortgage, I would again refer to 2 lenders in particular on the high street.
The point I am trying to make I suppose is that, “The most lenient” is not for everyone. Every lender has a particular part of the market they go for, whether that be adverse (which can be split further to late payments, defaults or bankruptcy), debt consolidation, self employed etc etc. It is very much a case of finding the shoe that fits. Also, over time lenders do change. Either due to bad experiences or possibly because they have too much risk in particular part of the market, so even if I could give you a list now. There is the posisiblity that in a week or 2 it will change.
Give us a call, we can have a chat. We always prefer to discuss your circumstances, no sales spiel just a few questions and in return we will give you an idea of rates we think we can get you. If that works, we can go to the next step.