Adverse Credit Mortgage
Adverse
credit mortgages are for people who have an adverse credit history.An
adverse credit history could include:
County Court Judgements (CCJ's)
Mortgage or rent arrears
Self employed - Although you can apply for
a self certificate mortgage
Decrees (Scotland)
Bankruptcy
I.V.A
Trust deeds
Mortgage lenders may also turn you down if you have changed address
many times or if you are an entrepreneur without 3 years worth of
audited accounts. Self-employed borrowers may have to apply for a
mortgage via sub prime lenders but may also apply for self-certificate
mortgages, meaning they declare their earnings without having a set
guaranteed salary.
It is estimated that one in four British people would not qualify
for a standard mortgage from a high street lender. This means they
require sub prime lenders in order to acquire a mortgage loan. As with
any product, if there is a demand then supply will follow, and as the
demand for adverse credit mortgages has risen, so too has the number
of lenders catering for this need, and there are many sub prime lenders
across the UK and also some mainstream lenders who consider lending
to people with an adverse credit history.
At the
PFC, we will give you a decision within an hour and accept mortgage
applications no
matter what your circumstances.
Click here to apply for a decision within the hour!
Adverse
Credit Mortgage
