High-street lenders will often decline your mortgage application if you have had financial difficulties in the past. There are however, lenders who specialise in providing adverse or bad credit mortgages to people who have had such difficulties.

The primary reason for being refused a mortgage may be because you have had a previous County Court Judgement or Default registered against you, or perhaps you are an Ex-Bankrupt or made arrangements with Creditors in the past.

A poor credit rating or adverse credit history can result in a traditional mortgage application being rejected. If a borrower has a history of poor credit usage then they are often described as Sub Prime.

If you have a poor credit history it doesn't mean you can't get a mortgage.

There are numerous lenders that specialize in lending to people with adverse credit. Interest rates may be higher because the lender views the borrower as a higher risk. However, we will review your circumstances and mortgage needs on a regular basis and transfer you to a high street mortgage as soon as your credit file improves.

 

The overall cost for comparison is 7.3%. The actual rate will depend on your individual circumstances. Ask for a personalised illustration.

Please feel free to contact us and we will endeavour to fulfil all of your requirements. We will deal with your enquiry in as flexible a way as possible, whether that is face to face, by telephone, post or email helen@equilibriummortgages.co.uk