mThe addition of a new
poor credit mortgage range to the deals on offer by Victoria
Mortgages has been announced by the
mortgage lender.
A new near-prime mortgage range is available to borrowers with
adverse credit problems.
The
mortgage rate for a self-certification
fixed-rate mortgage is 5.45 per cent in the latest
poor credit mortgage suite, the Mortgage Introducer website reports.
Self-certification mortgages are available to those who do not fit traditional
mortgage lending criteria who are trying to
find a mortgage . It is aimed specifically at people who are unable to prove their income.
Variable
mortgage rates on the poor credit mortgage offerings start from 4.81 per cent, the chief executive officer of Victoria Mortgages, Kevin Hillgren, points out.
He explains that the new poor credit mortgage range is designed for the "fastest growing segment of the market".
Mortgage borrowers with "the odd consumer or
credit card hiccough" could qualify for this poor credit mortgage, Mr Hillgren told the website.
The deals are available to both
first-time buyers and current mortgage holders who have been good payers with their current loan.
A maximum
loan-to-value of 90 per cent is available on this poor credit mortgage range.
