Adverse Credit Mortgages Kensington, London

Finding mortgages no matter your financial history

When it comes to buying a home, some lenders can take on a rather sanctimonious attitude. They ideally want to deal only with those who have faultless credit histories as adverse credit can be linked to loan defaults, county court judgement s and being discharged bankrupt.

However, money problems can effect anyone and sometimes people get into debt through no fault of their own. Certainly no-one taking out a mortgage wants to see their property repossessed.

There is some good news in that some lenders are willing to provide adverse credit mortgages. Deals are unlikely to match standard mortgages; lenders in the adverse credit market – which is also sometimes described as ‘sub-prime’ or ‘non-conforming’ – will charge higher rates. While the lenders clearly want to keep some degree of separation between their standard and adverse credit divisions, the deals they are offering are less punitive than in the past. Most lenders will also cut the interest rate if borrowers keep up a good payment record. And, after three years, it may be possible to switch to a standard loan.

Your application will be thoroughly vetted and the interest set according to the risk the lender believes you pose.  You may also be subject to redemption penalties, but these should cease to apply after three years.

A mortgage may not be available in all cases but we’ll always try our best to help so why not give us a call today.

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