Adverse Credit Cards

Adverse status lending has been common in the UK now for a number of years; these lenders make mortgages more obtainable for those with a poor credit history or credit rating, and allow mortgages to be obtained by everyone. We have developed a close relationship with these specialist lenders. Once we understand your situation, we will research the market and help you choose the product that is right for your circumstances. Recent research carried out in the UK shows that 1 in 4 people have experienced trouble in the past while trying to obtain a mortgage. The primary reason for being refused a mortgage may be your name being on a credit blacklist. A poor credit rating or bad - 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. Adverse status can result from County Court Judgements (CCJ's), Bankruptcy, arrears or any late payments on credit cards. They may all result in bad or adverse credit. A ruling by a County Court against a person who has not satisfied their debt payments with their creditors is known as a CCJ. The ruling remains on the persons financial credit history profile for a period of seven years. Failure of an individual to make payments at the correct time or to not comply with the lender's requirements is known as a Default. If you have a default you can probably still get credit with a large enough deposit. You are on the first step to repairing your credit rating if you can obtain an adverse credit mortgage. Adverse credit mortgages are often classified as sub-prime, non-standard, non-conforming or impaired credit mortgages. Interest rates are ofter slightly higher with adverse credit mortgages because the mortgage company sees the borrower as being a higher risk. A high rate protects their interests should the borrower default on repayments. http://www.cestria-adverse-credit-mortgages.co.uk