Southern Pacific was launched in 1996 and it has expanded to become among UK’s top 20 lenders. It is a non-conforming specialist lender, this means it is for borrowers who have a bad credit rating through to bankruptcy and repossession. This market is called the non-conforming mortgage market and is also know as the sub-prime or non status.

It’s mortgages are currently sold via a select number of specialist mortgage packagers. It was awarded a ‘Financial Adviser Five Star Service Award’ for it’s mortgages in 2003. It currently has over 450 staff in London and High Wycombe.

Its products are available to mortgage intermediaries, who are organisations or individuals that specialise in arranging mortgages for their customers via a range of mortgage providers, but who do not provide mortgages of their own.

Southern Pacific offers mortgages at different rates depending on which mortgage product you choose and also which risk category you fall into. Your category will be determined by your credit history such as previous arrears and CCJs. The different types are listed below:

Near Prime
Minor Adverse
Light Adverse
Medium Adverse
Heavy Adverse
Fast Track

Southern Pacific also has Buy to Let and Right to Buy mortgages. There are an arrangement fee and a higher lending charge applied on all of Southern Pacific’s mortgages.