Irish Mortgage Lender Profiles - Start Mortgages
Start Mortgages - Lender Profile
Start Mortgages are a new comer to the mortgage market. Their parent company is called Kensington Mortgages, based in the UK, where they have a large portion of the 'non-status' mortgage market.
They are a specialist lender. They offer mortgages to people with less than perfect credit histories and self employed people who need to 'self certify' their income.
They offer both mortgages to home buyers, and remortgages for loan consolidation purposes.
Deposit:
The max loan they will consider offering will be between 70% - 85% of the property value - it depends on a case by case basis.
Rates:
Their rates are not as attractive as other lenders, because people who take mortgages through Start tend to have a higher risk profile, and most of the traditional lenders would not approve them for loans.
However, their rates tend to be among the best from non-status / adverse credit mortgage lenders, and they offer more rate options than their competitiors.
Who will Start Mortgages appeal to?
Start Mortgages will appeal to people who are unable to get mortgage approval from traditional lenders, in particular, people with credit problems and self employed people with difficulty showing their income.
Who will Start Mortgages not appeal to?
Start Mortgages are specialist lenders, so if you do not fall into their niche categories, you will be better off with the traditional lenders.