What is Adverse Credit?
Hot Topics
- What Will The Initial Costs Of Buying A House Be?
- Before you actually move into your new property – you will have to pay a series of initial costs to cover the following:
- How Much Deposit Do I Need?
- As a general rule of thumb, you need to make a deposit of about 5 – 10% of the total amount you are borrowing.
- What Are Redemption Penalties?
- Redemption penalties are your lender’s way of getting extra money out of you when you decide to cancel your mortgage agreement early.
- Cashback Mortgages
- Cashback Mortgages provide you with a lump sum of cash upon completion of the property purchase, either as a percentage of the mortgage or a fixed sum.
- What Are Discounted Mortgages?
- Discounted rate mortgages take the lenders standard variable rate and apply a discount. By applying the discount it allows the borrower to reduce the interest rate on the loan for a set period of time.
If a borrower has a history of poor credit usage then this is described as Adverse Credit, Sub Prime or just simply, Bad Credit. Poor Credit history can include County Court Judgements (CCJ's), Bankruptcy, Mortgage arrears or any late payments on credit cards, credit arrangements etc.
Can I still get a mortgage if I have a bad credit history?
Our mortgage partners have access to lenders that will consider people with CCJ's, defaults, arrears and missed payments. They like to say that the only people we cannot arrange a mortgage for is an "Uncleared Bankrupt".
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