Adverse Credit Mortgages

Adverse Credit Mortgages. We Can Help With the Following

Adverse Credit Mortgages - Missed Payments

Missed Payments

When you enter into a financial commitment, you will usually make monthly payments. If you do not make full payments on time you will lower your chances of getting future credit. Missed payments appear on your credit file and the more recent, the more damaging it can be.

Defaults

A default notice is usually sent after between three and six missed payments and often requiring repayment of the entire sum borrowed. Defaults will show on your credit file and are seen as more serious than arrears as they demonstrate ongoing financial difficulties.

Arrears

The word “arrears” refers to a repayment that has not been paid in full and is past the date due. On a credit report, arrears is quoted by the number of missed or short payments. The effect of arrears when applying for a mortgage depends on their frequency and recency.

No Credit History

If you are going to take out a mortgage the lender will require evidence that you are going to repay the loan. This can be difficult if you have no record of borrowing and making payments on time, so you may be refused a mortgage, even if you have never been in debt.

CCJs

A County Court Judgment (CCJ) is a court order that may be registered against you if you do not pay money that you owe. If you do not pay a CCJ in full with 30 days of the date of the judgement it will appear on your credit file where it will stay for six years.

Bankruptcy

Bankruptcy is a type of insolvency when you are unable to clear your unsecured debts. It is declared on a voluntary basis or by a creditor as a last resort. A bankruptcy order will usually last around a year but will appear on your credit file for up to six years.

Repossession

A lender can apply to the court for an order to repossess your home if you fail to keep up-to-date with payments that are secured on it. This will, of course, have an effect on your chances of getting another mortgage, depending on the circumstances.

How Can We Help With Adverse Credit Mortgages?

Adverse Credit Experts

Getting a mortgage can be exciting, but it can also be a challenging and stressful time, more so if your credit history is less than perfect. Clients everywhere will appreciate the help and support of our experts on adverse credit mortgages, especially when you are bombarded with conflicting and confusing advice. For us, the process is simple and intuitive, even in this specialist market.  We save you time and frustration.

Exclusive Mortgage Deals

As independent brokers, we have access to the whole mortgage market. That means we can find the right deal and the best rate for your circumstances. That may be with a High Street bank or a specialist lender for adverse credit mortgages but we’ll know just where to look. Then when we’ve found you a mortgage we’ll gather the documents and answer the lender’s questions to make sure it all runs smoothly.

Free Credit Review

Are you confused by your credit score or credit file? Unsure whether you’ll ever be able to get a mortgage? We’re here to help. Just pop in and see us with your Experian credit report. We’ll assess your chances of getting a mortgage now or in the near future and give you some free help and advice on improving your credit rating. There’s no obligation and because we know that life’s not always simple we won’t judge you either.

Some Useful Resources

Quick Mortgage Calculator

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The Mortgage Store
64 Gold Street
Kettering
Northamptonshire
NN16 8JB

+44 (0)800 310 0051

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Disclaimer

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE. There is no charge for a mortgage consultation, quotations or providing an agreement in principle.  A fee of £299 is payable on submission of a full mortgage application.

The Mortgage Store (Ian Wilson) limited is authorised and regulated by the Financial Conduct Authority. Financial Services Registered number for The Mortgage Store (Ian Wilson) limited is 784801.  The Mortgage Store (Ian Wilson) limited is registered in England and Wales No: 9447172. Registered and trading address is 64 Gold Street, Kettering NN16 8JB.The guidance and/or advice contained in this website is subject to UK regulatory regime and is therefore restricted to consumers based in the UK. If you contact us by e-mail, we may store your name and address to facilitate communications.

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Complaints

If you wish to register a complaint, please write to Ian Wilson, The Mortgage Store, 64 Gold Street, Kettering, NN16 8JB or telephone 01536 310220. A summary of our internal complaints handling procedures for the reasonable and prompt handling of complaints is available on request. If you cannot settle your complaint with us, you may be entitled to refer it to the Financial Ombudsman Service at www.financial-ombudsman.org.uk or by contacting them on 0800 023 4 567.