Hello there,
First time posting here.
Looking for your opinions on sub prime mortgages.
Tried to remortgage in the last few weeks, unsuccessfully.
Started working as a contractor a year and a half ago, which doesnt seem to be long enough for some of the main banks.
Went to BOS through a broker, but a few late mortgage repayments last year, due to poor organisation on my part, ruled me out for them.
Broker is suggesting going with a sub prime lender for a couple of years and then switching back to a main bank.
Is this a good thing to do, does it look bad if you go to a sub prime lender? Has anyone done this and managed to switch back to the main banks afterwards? I dont want to be stuck with sub prime lender for more than 2 years.
First time posting here.
Looking for your opinions on sub prime mortgages.
Tried to remortgage in the last few weeks, unsuccessfully.
Started working as a contractor a year and a half ago, which doesnt seem to be long enough for some of the main banks.
Went to BOS through a broker, but a few late mortgage repayments last year, due to poor organisation on my part, ruled me out for them.
Broker is suggesting going with a sub prime lender for a couple of years and then switching back to a main bank.
Is this a good thing to do, does it look bad if you go to a sub prime lender? Has anyone done this and managed to switch back to the main banks afterwards? I dont want to be stuck with sub prime lender for more than 2 years.