Mortgages, Remortgages, Secured Loans and Personal Home Loans
41. Lower Remortgage Rates When You Bad Credit History
Even with an adverse credit history you may be able to qualify for lower remortgage rates than you would expect.
Many people find themselves struggling with the problems that come with negative credit histories, and many high street lenders do not like to consider adverse credit mortgages, despite the fact that roughly 25% of all people applying for a mortgage or a loan have some form of bad credit history.
If you have an adverse credit rating, it could be due to having county court judgements (ccj's), missing loan payments, mortgage arrears or even from being discharged as bankrupt.
Having an adverse credit rating means you are classed as having a bad credit history.
Anyone with bad credit can receive an Adverse Credit Secured Mortgage or Loan, despite any of the financial
difficulties, arrears, or debts that you may have accumulated in the past.
Adverse credit secured loans are loans which require you to be able to offer the lender some form of security,
most often taking the form of property. The property used to secure the loan could currently be either on a
mortgage or be even owned outright. By using property to secure an adverse credit mortgage or loan, lenders can offer you a lower interest rate on the loan, as well as a better repayment term. This is because the lender assumes much less risk than if the loan was unsecured.
There are literally thousands of Adverse Credit Mortgages from which to choose, and finding the right
option for you and your family is an important step along the debt management road. And just because you have a poor credit history does not mean you cannot get a mortgage.
An adverse credit mortgage, known in the industry as a sub prime or non-standard mortgage, is one
that is specially tailored for people who have an adverse credit history. Apply online today!
These Articles are copyrighted and may not be reproduced without permission.
Copyright © 24/07/2008 Brabazon Group Ltd
