ADVERSE CREDIT MORTGAGES
We are Adverse Credit Mortgage specialists in Nottingham
Adverse Credit Mortgages / Bad credit mortgages / sub-prime mortgages are specifically for people who have a bad credit rating.
How do you know where to start looking ?
- You may have some missed payments on a mobile phone bill, a loan, a credit card or even a mortgage
- You may have a default or numerous defaults on your credit report
- You may have a CCJ (County Court Judgement)
- You may be in a or have been in a debt management plan
- You may even have been bankrupt
When you are one of the above trying to find a mortgage suitable for you can be difficult as you could have a bad credit score, which means lenders available to you will be limited
The Difference with these Mortgage lenders:
The main difference with this type of mortgage is that interest rates can be higher to standard mortgages as you are considered a higher risk to lenders. It’s highly likely you will need a larger deposit, usually at 15% of the property value.
The Answer: Let us assess your credit report and we will tell you what your options are, which will save you hours, days, weeks and months trying to find a suitable lender.
A snippet of some of our lenders criteria:
- Missed payments accepted with certain lenders
- Defaults accepted with certain lenders
- CCJ’s accepted with certain lenders
- Debt Management Plans considered with certain lenders
- Mortgage arrears accepted with certain lenders
- Individual Voluntary Arrangement considered with certain lenders
- Discharged Bankruptcy considered with certain lenders
Contact Cherrywood Mortgages now, your friendly local Nottingham Mortgage Broker
*Your home may be repossessed if you do not keep up repayments on your mortgage*
*Buy to let mortgages are not regulated by the Financial Conduct Authority*