Adverse Credit Mortgages and ReMortgages
Even if you have been turned down we can probably help! 
Many people in the UK have experienced trouble in the past while trying to obtain a mortgage, so it is no surprise that the subject of mortgages inspires apprehension in some people. The primary reason for being refused a mortgage may be your name being on a credit blacklist. A poor credit rating or bad credit history can also result in a traditional mortgage application being rejected. An adverse credit mortgage is one that is tailored to suit the requirements of those who suffer from a less than perfect credit rating and financial status.

Although the main reason for being refused a mortgage is often because the applicant has a poor credit history, there are a number of other factors taken into account that could adversely affect a mortgage application. Successfully identifying the reason for being refused a mortgage is the first step towards rectifying the problem. That way you are in a position to take action to rectify this reason and successfully obtain a mortgage. Some common reasons mortgage companies have for refusing applications are: 

If you have been self-employed for only a short period and thus don't have three years worth of financial accounts to show, you may experience difficulty with mortgage applications.
County court judgments (CCJ’s) made against you in the past can also affect mortgage applications.
Periods of redundancy can result in finances being stretched. This can lead to reduced loan or credit card repayments, which then appear as defaults on your credit report.

Adverse status lending has been common in the UK now for a number of years; these lenders make mortgages more obtainable for those with a poor credit history or credit rating, and allow mortgages to be obtained by everyone. If you can obtain a mortgage with a poor credit rating, you are in a good position to start repairing a poor credit record. Types of adverse credit mortgages that are commonly advertised include non-standard, sub-prime, non-conforming or impaired credit mortgages. Adverse credit mortgages generally feature fewer options than other standard mortgages, particularly regarding interest rates; rates are often higher for adverse credit mortgages because the mortgage company sees the borrower as being a higher risk. A high rate protects their interests should the borrower default on repayments.
 
Don't Give Up Hope
If you are one of the many people in the UK experiencing difficulty obtaining a mortgage, our website should prove to be your one stop solution. We will search the country’s best and most reputable adverse credit mortgage providers, allowing you to shop around and find the deal that is right for you. Complete our form today and allow us to find a suitable mortgage for you so that you can begin rebuilding your credit record.

Your home may be repossessed if you do not keep up repayments on your mortgage.

The information on this website is for the use of residents of the United Kingdom only. No representations are made as to whether the information is applicable or available in any other country which may have access to it.

Openwork offers insurance and investment advice on products from a limited number of product providers and advice on mortgages representative of the whole market.

Adverse Credit Mortgage Enquiry Form
 


Reduce outgoing or pay off your mortgage early!
 

 
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