Adverse Credit Explained

What is adverse credit?
Adverse credit is a blemish in your past credit history, otherwise known as bad credit, poor credit or imperfect credit. This may be the result of late payments of bills, CCJ’s or even bankruptcy. Whatever the cause, home owners with blemishes on their credit history often find it difficult to find secure a remortgage on their property. There are specialist lenders who do lend to people with adverse credit – known as ‘sub-prime’ lenders.

We have considerable experience in arranging remortgages for those with adverse credit, and search the remortgage market to find the best deals for our clients.

An adverse credit remortgage is also sometimes called:

Complex remortgage
Non status remortgage
CCJ remortgage
Poor credit remortgage
Bad credit remortgage
Sub prime remortgage

The Remortgage Process Explained

Lending money is all about risk

A bank will weigh up the risk factor of lending money to an individual and decide whether they are likely to get their money back without too much hassle. Therefore some lenders simply will not lend to what they consider to be high-risk category borrowers. Other lenders will loan to people in this category but adjust their interest rates accordingly. This means you may have to pay higher interest rates on your mortgage.

On the positive side you often can get a remortgage and if you repay the remortgage as required by the lender, after three years your credit history would have benefited considerably.

Most mortgage lenders offer special introductory mortgage deals to attract new customers, but do not offer these discounts to existing customers.