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adverse credit mortgages

Home loans tailored for individuals with a history of poor or adverse credit

Your Home may be Repossessed if you do not keep up repayments on your mortgage

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Mortgages for individuals facing credit challenges

An adverse credit mortgage, often referred to as a subprime mortgage or a bad credit mortgage, is a home loan tailored for individuals with a history of poor or adverse credit. This type of mortgage may suit individuals who have previously missed mortgage or loan payments or have received a CCJ. Many clients have unpaid parking fines which have led to them having adverse credit.

What is an adverse credit mortgage?

This type of mortgage is specifically designed to accommodate borrowers who may have experienced issues like late payments, defaults, bankruptcies, or County Court Judgments (CCJs), making it challenging for them to qualify for a standard mortgage.

It’s important to note that adverse credit mortgages typically come with higher interest rates and fees, reflecting the higher risk to the lender. Borrowers considering this type of mortgage should be aware of the cost implications and seek professional advice to understand their financial situation better.

Speak To an Expert

Contact us for a fee-free initial consultation, our team of mortgage and financial experts is here to help. There may be a fee for arranging a buy-to-let mortgage, and the exact amount will depend on your specific circumstances. Typically, we do not charge a fee for residential mortgage advice.

01225 962 456
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Who could benefit from an adverse credit mortgage?

Individuals with a history of bad credit

Borrowers who have faced financial setbacks, such as missed payments, or have a low credit score, may require an adverse credit mortgage to access the housing market.

Former bankrupts

Those who have gone through bankruptcy proceedings may struggle to qualify for regular mortgages but can explore adverse credit options to become homeowners.

People with CCJs

Individuals with County Court Judgments may find it challenging to secure a standard mortgage but can seek adverse credit alternatives to buy a property.

Self-employed or irregular income earners

Some self-employed or gig economy workers might have inconsistent income, leading to irregular credit histories. An adverse credit mortgage can be a solution for them.

Where can I check my credit score?

Are you concerned about your credit score? Check it right now and see if your financial plans could be affected by a low credit score. Our handy checker combines the four top credit checking agencies to provide an accurate report on your credit score.

There are also ways that you can help to increase an adverse credit score:

  • Reducing the amount of credit card balances you have.
  • Being registered on the electoral roll.
  • Having an extended period without any bad marks on credit reports (eg: a missed payment in the most recent 6 months will have a far greater impact than one 2 years ago).
  • Clearing a credit card regularly to show that you can borrow sensibly. (Please note that it can be risky to make any credit application before looking to apply for a mortgage or other lending).

We’re here to advise on adverse credit mortgages

Before making an application, we recommend speaking with an expert to get professional advice.

Windsor Hill works closely with individuals considering an adverse credit mortgage to help them make an informed decision based on individual needs and circumstances.

Speak to one of our expert team members today to help you with your adverse credit mortgage requirements at 01225 962 456 or email info@wordpress-1314548-5996444.cloudwaysapps.com.

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