Adverse Credit

Adverse credit mortgages are broadly defined as financial products, for property investment, that are targeted to borrowers with poor credit scores. Sub-prime lending is synonymous with adverse credit. At Boon Brokers, our advisers are sympathetic towards sub-prime borrowers. We understand that life can be unpredictable. Often, factors outside of borrowers’ control can adversely affect their credit files. Fortunately, unlike many brokers in the United Kingdom, our advisers have whole-of-market access. This means that we can access lenders that share our sympathy towards sub-prime borrowers. Sadly, these lenders are rarely known by the general public. There are some mainstream lenders, such as Halifax, who make allowances for certain adverse credit. However, most lenders have strict criteria. For example, based on current criteria, if an applicant has ever declared bankruptcy, Santander will not lend any loan sum.

What is adverse credit?

  1. Bankruptcies
  2. Defaults
  3. Late payments
  4. Debt management plans
  5. County court judgements
  6. Arrangements to pay
  7. Individual voluntary arrangements
  8. Debt relief orders

If you have concerns regarding your credit file, our advisers are happy to answer any questions. We encourage you to click the ‘Contact Us’ button and submit a mortgage enquiry form. All clients receive free consultations.

This article is intended to provide a general understanding of the topic. The contents should not be treated as advice. For personalised advice, please submit an enquiry. Your home may be repossessed if you do not maintain repayments on your mortgage.

For more information please get in touch and we will be happy to assist you.