Adverse Credit Mortgage Lenders

An adverse credit mortgage lender provides mortgage and remortgages for people that do not fit high street mortgage lending criteria. This could be for a number of reasons, but is normally because you have a history of not meeting every credit payment due in the past. These types of lender have grown in number over recent years with the increasing realisation by lenders that it is a massive market nowadays.

 

Lenders will lend money to people with missed credit card payments, defaults, IVAs, County Court Judgements (CCJs), not on the voters roll, discharged bankruptcy, or other histories.

 

As providing mortgages to people with low advers, medium adverse, or high adverse credit, is more risky than lending to people with squeeky clean credit companies adopt more stringent vetting criteria. The application process can be quite confusing and compicated, so if you are inexperienced with mortgages it will be worth seeking mortgage advice fromn intermediary. In addition, some adverse mortgage products are only available through lenders that deal only through intermediaries and not directly with the public.

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Choosing the right mortgage or remortgage

With so many mortgage products on the market... Fixed rate, trackers, capped, interest only, flexible rate, variable rates, offset... it can be difficult to decide which is the best to meet your goals. The criteria that each lender are looking for in a borrower are different as well. Meaning it can be difficult to make a complete application swiftly and efficiently.

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