Charcol to help those with adverse credit

Professional Adviser

A history of CCJs, arrears and bankruptcy is no longer a barrier to gaining a home loan from Charcol...

A history of CCJs, arrears and bankruptcy is no longer a barrier to gaining a home loan from Charcol. The new package offers borrowers with adverse credit a home loan which is 0.5% above the lender's Standard Variable Rate (SVR) until 31 July 2002, giving a current pay rate of 7.74%. Then it will rise to 1.5% above SVR until 31 July 2003, and 2.5% above SVR thereafter. Charcol's technical manager Ray Boulger says Charcol is looking to help those "hit by unfortunate circumstances to get back on their feet". The package gives borrowers only two years early redemption penalty fees starti...

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