Bad Credit Mortgage

For Adverse and Bad Credit Mortgages

Bad Credit Mortgage

Whatever your credit rating, Mortgage arrears, CCJ's, mortgage defaults, IVA, discharged bankrupcy.......dont worry.

Here at The Mortgage&Loan Business, we understand that not everyone has perfect credit rating, in fact according to government statistics, up to one in four people have had some sort of credit problem within the last few years. It may sup rise you to know that many of these cases are due to reasons as minor as missed credit card payments.

Because of this many people then feel that they will not be able to raise any finance for a mortgage or loan because they have been branded as bad credit cases by the major mortgage lenders and brokers.

This however is not always the case as there are many lenders that are prepared to listen and get you a bad credit mortgage or a bad credit loan.

So long as you are a homeowner or have commercial property, there are very few people that we cannot help. We can offer you finance at the best rates available up to 90% - 95% of the home value, and often more importantly quickly.

We promise that our specialist advisors will always deal with your enquiry in a courteous manner and every application is looked at with open mind and on individual merit.

Call Freephone: 0800 804 6494

Bad credit mortgage / Adverse credit mortgage / CCJ mortgage

Some applicants may be denied loans due to bad credit history or bad credit scoring on their mortgage application. However, nowadays it is possible even for those with bad or adverse credit to obtain a mortgage in the UK. Lenders who are willing to lend in this market are commonly known as 'sub-prime' and this mortgage market has grown considerably, led primarily by financial institutions from the US. However, borrowers have to pay a price for these mortgages, with rates a few percentage points higher than those set by mainstream lenders. The sub-prime mortgage market can be broken down into two distinct sectors. The first is those people with a bad credit history. Many people may have a bad credit history, including County Court Judgements (CCJs) or previous mortgage arrears. Even if the mortgage arrears are paid off, the missed payments will be listed in the credit records. Redundancy is another common reason why people can find themselves with bad credit. The second distinct sector consists of borrowers who have clean credit records, but who have problems proving sufficient 'earned' income to attract a mainstream lender, for example self-employed people. Sometimes, lenders categorise this sector as 'complex prime' - people who do not fit the mainstream lender's terms, but who are perfectly deserving of a home loan and can easily afford the payments. Borrowers should be aware that if they make all their payments on a sub-prime mortgage in full and on time, then within a few years a sound repayment history will be created and they may be able re-mortgage with mainstream lenders with lower mortgage rates. We are mortgage brokers that specialise in the bad credit mortgage sector. Our advisors are very experienced in this area and so can recommend the right mortgage for you based on your credit background. Previously, people with adverse credit normally had to pay much higher interest rates than mainstream mortgages. Today, things are a lot different. In 2002, one in four mortgages in the UK was a 'sub-prime' mortgage. Consequently, there is a lot more choice available now and we can now arrange adverse credit mortgages at rates that are only slightly above the very best rates offered on the high street. We offer professional and confidential advice. We deal with your application quickly and we search all the lenders to find the best mortgage and best interest rate for your individual circumstances. For a fast, free mortgage quote, click on the link below and see what we can do for you!