Independent Mortgage Brokers
Adverse Credit...
This type of loan is also known as bad credit, sub-prime and non-status mortgage. If you have had problems in the past with defaults, county court judgements or non payment of mortgage, rent or bills then it does not mean that you can't get a mortgage.
There are many lenders and packaging companies that specialise in this area. No matter how bad the situation appears there is normally someone who is prepared to lend to you. There may be extra restrictions on the mortgage such as longer periods where you are tied in to the lender or higher rates charged, they may require more deposit and higher fees.
This is because they consider there is a higher risk of non-payment.
If you already hold an adverse credit mortgage and have kept up the payments for at least 12 months it may be time to switch to a mainstream lender mortgage as this could save you some money.
Your home may be repossessed if you do not keep up repayments on your mortgage.
For mortgage advice you can choose how we are paid, pay a fee of usually £500, or we can accept commission from the lender.
The FSA does not regulate legal advice and some forms of mortgage.
The overall cost for comparison is 9% APR. The actual rate available will depend upon your circumstances. Ask for a personalised illustration.
