Adverse Credit Mortgages - explained and available help and solutions!
Adverse Credit Mortgages are mortgage products for people who have experienced some form of credit difficulties such as CCJ's or Bankruptcy.
"Explained things in concise clear language. Easy manner - no pressure - created environment to make a decision."
Mr & Mrs M., Leeds, West Yorkshire
Here we take a look into Adverse Credit Mortgages and how they differ to conventional mortgage products, and offer help as to how we may be able to assist with an Adverse Credit Mortgage.
Table of Contents:
So, what is an Adverse Credit Mortgage?
So, an Adverse Credit Mortgage is a type of mortgage product designed for people who have experienced some form of credit difficulty including:
- County Court Judgements (CCJ's)
- Bankruptcy
- Individual Voluntary Arrangement
- Credit Defaults
- Mortgage Arrears
You may like to know that Adverse Credit Mortgages are also known by other similar names such as:
- Poor Credit Mortgages
- Bad Credit Mortgages
- Problem Mortgages
- Low Credit Score Mortgages
- Bad Credit History Mortgages
- Non-Status Mortgages
- Impaired Credit Mortgages
- Non-Conforming Mortgages
- Sub-Prime Mortgages
What is the difference between Adverse Credit Mortgages and conventional mortgages?
Well, as you are probably aware, life is not always black and white! Indeed it's estimated that one in four mortgage applications have some form of adverse credit history, and in these instances our experience shows that most people have the capacity to pay, but all too often find that the door to a mortgage is shut! Not so at Shire Direct.
Here we understand that lifestyles and personal situations can often create difficulties when it comes to arranging a mortgage. Of course in an ideal world we would all have a steady job, a regular income, and no financial worries. However, in reality, many people will encounter some form of financial difficulty, and quite often through no fault of their own! That's why we've come up with a range of quality mortgage products from lenders who will sympathetically consider difficult or unusual circumstances.
Can Shire Direct help me with a mortgage if I have adverse credit?
Well, we will certainly try! And we feel that if we can't help, then nobody can!
We have the approach, the skills and the products to assess our customer's circumstances individually, and we pride ourselves in providing the best advice and personal service, quickly and efficiently.
A telephone call to one of our mortgage experts will give you an indication as to how we can help, and the options available to you from our extensive portfolio of specialist lenders. Our mortgage advisors are professionally qualified, and undertake ongoing and rigorous training to ensure they remain up to date with solutions to meet your particular requirements.
Leave all the hard work to us!
So, whatever the situation, and whatever your requirements, we'll carefully evaluate your specific circumstances, and not make impersonal judgements merely on computer based credit scoring systems.
We hope we've managed to provide you with some more insight into Adverse Credit Mortgages and how we may be able to help with an adverse credit mortgage if you have suffered credit difficulties. So, what's the next step? Well, if you do feel we can be of assistance in arranging an adverse credit mortgage, then why not get in touch. You can call us seven days a week on FREEPHONE 08000 282 281, our lines are open everyday until 10pm, or enquire online at anytime! We'll be delighted to provide you with an in-principle decision whatever your circumstances. Afterall, you've nothing to lose, and everything to gain!
The overall cost for comparison is 9.8% APR.
The actual rate available will depend upon your circumstances. Ask for a personalised illustration. APR variable and based on a usual case. Most customers are likely to receive a lower rate or the same rate as our overall cost for comparison rate - learn more about APR.
There are no upfront broker fees.
However, a fee may be charged on successful completion. An indication is that on conforming cases (straightforward applications with no or minimal adverse credit) a fee may be charged of up to 1% of the amount advanced, typically £795 and will depend on your circumstances.
For non-conforming cases (where case research and processing may be more complex due to adverse credit or unusual circumstances), a fee may be charged of up to 3% of the amount advanced, typically £1,995.
THINK CAREFULLY BEFORE
SECURING OTHER DEBTS AGAINST YOUR HOME.
YOUR HOME MAY BE REPOSSESSED
IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT.
Adding existing debt to your mortgage will increase the repayment term and overall cost.
Are you worried and becoming stressed because you are having problems getting a mortgage or remortgage? Worry and stress no more! Here at Shire Direct we provide tailor made mortgage solutions to suit you, and can usually help with all kinds of circumstances including...
Remember, we're here to help, and would love to hear from you!
Shire Direct and Shire Direct Mortgages are trading styles of Shire Processing Centre Limited which is
Authorised and regulated by the Financial Services Authority in respect of regulated mortgage products and general insurances.
Registered No: 302389. Commercial funding and Secured Loans are not regulated by the FSA.
Licensed Credit Brokers. Consumer Credit Licence Number: 349999.
Shire Processing Centre Limited is registered under the provisions of the Data Protection Act by the Information Commissioners Office: Registration No: Z6795249. Registered in England & Wales. Company number: 2732202. Telephone calls may be recorded for training, monitoring and security purposes. All applicants must be aged 18-years or over.