Obtaining a mortgage has always been a process that requires some assistant from specialists in the field. With legislation and lender rules changing over recent years the mortgage market has been affected, and continues to change. One section of the population that seems to be hit particularly badly is those with adverse credit histories.
Adverse credit can show up on a persons credit history from a number of situations, including:
County Court Judgments (CCJ)
Defaults
Arrears
Missed or late mortgage payments Bankruptcy
Individual Voluntary Arrangement. (IVA) Company Voluntary Arrangement. (CVA)
Missed or late credit card payments
Communications arrears
Debt Management Plans
DMP Payday Loans
Proceeds of Crime Act (POCA)
HMRC CCJ
If you have any of these adverse credit tags on your credit file it can have an effect on your ability to obtain credit for six years from the date they were incurred.
It isnbt impossible any longer for a person with adverse credit to obtain a mortgage. Deposits might be larger (anything from 15% or higher), but they are available, and with competitive rates.
Central Mortgages are pleased to be able to assist those with adverse credit histories in obtaining a mortgage. We have recently helped to arrange mortgages with clients that had a default or a CCJ against their name, even helping those with bankruptcy in their credit history. For those looking for a remortgage agreement after being rejected by the high-street lenders, we have also been able to offer an alternative.
If you are looking for a mortgage but are worried about your adverse credit history, donbt worry, Central Mortgages is in a position to offer help. Contact us today and a member of our friendly team will be happy to assist you.
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