High risk loans in Croydon

At Finefair we offer several services, including the best guaranteed rent Croydon has. Demand for homes in the area remains very high because there are so many amenities, including a technology hub. As more people are priced out of Central London they look at popular suburbs like this southern Borough. The popularity also attracts investors looking to make a healthy rental income or long term capital gains.

Risky loans

Some people need to take out very high risk mortgages to secure a home. Generally a mortgage has a lot of risk if it is 4.5 times the annual salary or more. Buyers are more likely to need this kind of loan in markets where there is a big gap between average earnings and house prices. Croydon falls into this category.

The average number of high risk loans offered per area in the UK was 39 last year. In Croydon the total was a huge 463, the highest in Britain. Walthamstow was the second most risky areas with 421.

Not only is does Croydon have the highest total; it has also shown very strong growth. Between 2016 and 2017 the number of these risky mortgages offered grew by 11%, rising from 419.

Changing reputation

Croydon once had quite a bad reputation and wasn’t that popular. Now it is a technological powerhouse home to over 1,500 start-up companies and other businesses in the industry. Redevelopment and gentrification have also improved the area. As a result the property market is now completely different, standing out as a hotspot.

Investors can call on Finefair for help with finding and managing properties. We have a lot of experience and always offer the right service, catering for people all across London.

If you want to work with the number one company for guaranteed rent Croydon has, contact us today. You can also find out more about how the schemes work here. We are happy to share information and explain why guaranteeing rental incomes with us is such a great opportunity.