Adverse Credit Remortgage Leads and Appointments

Are you a UK mortgage adviser and considering buying adverse credit remortgage leads and appointments?

The Office of Fair Trading (OFT) estimates that, in 2002, £32 billion of unsecured lending and £8.8 billion of secured personal lending were used for debt consolidation. This compares with an estimated £18.4 billion of unsecured lending and £2.4 billion of secured personal lending in 1999. The value of credit card balance transfers in the first ten months of 2003 was £13.6 billion, compared with £11.6 billion for the whole of 2002. Not all of these transfers will be debt consolidations. Mori Financial Services (MFS) estimate that about 15 per cent of all transfers involve consolidation of more than one credit card balance.

From this information, we can glean that debt consolidation is at an alarming rate and we are talking about £50 billion per year and growing. Research in the UK has indicated that as many as 1 in 4 people have had an adverse credit or bad credit history in the past. Debt reports in national UK newspapers indicate that debt problems are spiralling out of control but it has now become easier than ever before to take out more debt by applying for loans, credit cards, mortgages, and to remortgage lenders.

This was all well and good whilst interest rates were low and rates were just above the UK retail prices index level (RPI). It just didn't make sense to try and save, as it was cheaper to borrow now, buy now and pay later. But this can't carry on indefinitely and as interest rates start to rise, as they will, the debt will bite into peoples circumstances even harder.

There are many reasons for considering a debt consolidation remortgage but generally debts are consolidated to reduce outgoings by either placing the new loan over a longer term or by reducing the interest rates paid by moving to a lower interest rate and paying the loan back quicker.

Debt Consolidation Leads


Some debt consolidation leads are exclusive, pre-qualified, interviewed either on the phone or face to face and all the prospects have agreed to speak to a mortgage adviser. This way the lead is not churned from one adviser to another and leads can be hand picked, guaranteed and exclusive.

Now I dont know about you but to me this is a complete waste of time and money.

The smart money will go on exclusive leads and appointments, on the ones where no other adviser will be contacting the client nor sitting down with them on remortgage appointments. If leads are exclusive to the person buying them, the success rate is likely to be far higher. Each lead can be spoken to by trained telesales executives, who agree with the client that an adviser with contact them for a sit down appointment.

Adverse Credit Remortgage Leads and Appointments


There are a number of companies that offer to collect adverse enquiries from the Internet and whilst this can be one good source of information, the enquiries are often distributed to hundreds of advisers in the UK. The consequences of this are that these people will get bombarded with hundreds of calls from mortgage advisers and then its very much a case of first come, first served.

Some telesales staff are trained to an extremely high standard and the quality of the information supplied can be both accurate and genuine. From home improvement enquiries, to the purchase of a holiday home, the mortgage adviser can handle the lot and remortgage appointments can be made in the specific postcode areas of the individual mortgage adviser.

Adverse credit leads and appointments can mean a lot of money for the astute mortgage adviser but only if it is sourced correctly and the leads not churned to hundreds of advisers.

50-Year Home Mortgage - The Methuselah of Mortgages

Many people are struggling to afford a home. But with the new offering available from a few lenders, these people now have a better chance of owning a home. The new offering is called the 50-year adjustable rate home mortgage and it's bound to benefit a lot of consumers.

The arrival of the 50-year home mortgage is seen as a viable solution for a lot of homeowners who are cash-squeezed and looking for loan options more suitable for them. This home mortgage likewise offers homeowners a way to consolidate high interest loans. This type of home mortgage is also beneficial for borrowers who are searching for alternatives that offer them a way to afford more house for their money.

There are three different types of 50-year mortgages. They are:

· The fixed rate

· The adjustable rate, which may or may not come with a fixed rate for the first few years of the loan

· A loan that extends the principal payments for a period of 50 years, but obliges borrowers to come up with a balloon payment after a certain number of years

The 50-year home mortgage is also a good option for buyers who need to keep their payments low in spite of record home prices and rising rates. The most obvious advantage of the 50-year home mortgage is the lower payments as a result of the loan being stretched out for fifty years. Because the amortization is longer, the monthly payment is reduced, saving homeowners money every month. The monthly payments for a 50-year home mortgage can be as low as those for a 1-year mortgage. And, compared to a 30-year loan, the five-decades-long home mortgage normally costs around a quarter of a percentage point higher in interest.

The 50-year home mortgage is typically set up as a 5/1 adjustable rate mortgage. This means that for the first five years, the rate will be fixed, but will adjust with the market for the next 45 years. Because of this feature, the 50-year home mortgage becomes suitable for a buyer who needs assistance for the first five years of the loan. During this period, the buyer may opt to refinance into a more conventional mortgage with a shorter term.

Other benefits of the 50-year home mortgage include:

· Monthly payments are lower compared to more conventional mortgages like the 15- or 30-year mortgages

· Helps offset record-high home prices since the lower house payment boosts your purchasing power, allowing you to buy more of a house in a high-cost housing market

· An excellent option for those who are capable of making only small payments at first, but plan to refinance or sell the home in the future

· The minimum payments required will reduce the balance gradually

· The lower monthly payments enable you to buy a more expensive house, which you would find improbable otherwise

· An excellent way to enhance monthly cash flow for those considering purchasing or refinancing a rental property

With all the benefits the 50-year home mortgage offers, you might want to consider checking it with your mortgage lender. The important thing to remember is that not all 50-year loans are the same. There are lenders that offer a fixed rate for the entire life of the loan, while others offer options like a fixed rate for a number of years and a variable rate for the rest. Be sure to be fully informed first before making a decision.