Money problems can affect everyone
Lenders only want to deal with those who have faultless credit histories, perfect work records and adequate deposits. Adverse credit problems can be linked to a loan default, county court judgements or being a discharged bankrupt.
Sometimes people get into debt through no fault of their own and even if they are to blame, they want to sort things out. Certainly no-one taking out a mortgage wants to see their property repossessed.
Here’s the good news!
There is some good news in that some lenders are willing to provide adverse credit mortgages. Deals are unlikely to match standard mortgages; lenders in the adverse credit market – which is also sometimes described as ‘sub-prime’ or ‘non-conforming’ – will charge higher rates.
In most instances our advisers can still find suitable solutions for you. To find out what options are available to you, either send us an online message or call our freephone number: 0800 9701795.
Your application will be thoroughly vetted and the interest set according to the risk the lender believes you pose. You may also be subject to redemption penalties, but these should cease to apply after three years.
A mortgage may not be available in all cases.
THE OVERALL COST FOR COMPARISON IS 8.7% APR.
THINK CAREFULLY ABOUT SECURING OTHER DEBTS AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.