If you have availed of a loan with a main stream financial institution you will have a record on the Credit Bureau of all transactions relating to that facility.  The record remains on the Bureau for 5 years after repayment of the loan. This can be very good as it will show any prospective lender that you have had a loan and you have made your repayments in a timely fashion. 

If however, you were unfortunate and not able to meet your financial commitment a record of that fact will be lodged on the Bureau.  This will lead to difficulties when applying for a mortgage.  Lenders prefer to deal with clients who have good credit rating. 

If you have a bad credit rating all is not lost.  Metropolitan Finance can arrange finance for you to buy your home.  This will involve a higher rate than a standard mortgage because the financial institutions concerned feel that they are taking a risk.  This type of lending is known as ‘Non Prime’ lending.  If you manage to conduct a non-prime mortgage in order for three years Metropolitan Finance will be able to transfer your mortgage to a Main Stream lender and at that point you will be able to avail of a more competitive rate. 

If you wish to avail of a facility and you have a bad credit rating all is not lost, contact Metropolitan Finance on 1890 66 66 66 and we will help you get a mortgage suitable for your needs.