When it comes to buying a home, some lenders want to deal only with those who have faultless credit histories but money problems can affect everyone. 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 have been to blame, want to sort things out. Certainly no-one taking out a mortgage wants to see their property repossessed.  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. 

 

Most lenders will also cut the interest rate if borrowers keep up a good payment record. And, after three years, it may be possible to switch to a standard loan. 

 

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, but we'll always try our best. Why not give us a call today and see how we can help you.