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Adverse credit mortgages are for people who have a poor credit history. Also known as sub prime mortgages, credit repair mortgages, poor credit mortgages, problem mortgage, non-status mortgage and mortgage with credit problems. If you have county court judgements (CCJ’s), defaults (missed payments) on loans, mortgage or other credit agreements, mortgage arrears, rent arrears, individual voluntary arrangements (IVA’s) or you have been bankrupt your credit score will be affected in a negative way and you will find it difficult to obtain credit. Under these circumstances you will need an adverse credit mortgage or remortgage.
Your situation may be that you have no credit and therefore you have no credit rating. You would be classed as non-status by many lenders; there are lenders who will offer a mortgage. They will look at your ability to service the mortgage i.e. make the payments rather than look at your lack of credit history. My Debt Lifeline can find the solution to your credit or lack of credit problems when looking for a remortgage. Mortgage or loan.
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