Adverse Credit Mortgage

Jeffrey Said:

Is there any guarantor mortgages available for people with adverse credit history.?

We Answered:

http://www.remortgagesupermarket.co.uk/e…

Jim Said:

i have adverse credit, and have just got a mortgage. can i get a home loan to consolidate all my other debts?

We Answered:

If you have any equity in your house, then you can borrow money against that.

Lauren Said:

Where in the UK can I get 100% adverse credit mortgage?

We Answered:

there are many companies out there now who specialise in adverse credit mortgages. i would not feel negative about your credit history when looking for a mortgage. to be honest, many companies specialise with people who have poor or no credit history, all they are concerned with his whether you can pay now or future.........obviously the interest rates will be alot higher.
use yahoo search engine and just type in poor credit mortgages... one good one wud be guaranteed mortgages, or portfield mortgages.... play around with words in the search engine.... if u have outtsanind ccj's u may have to pay 3-5% deposit, but shop around.

Felicia Said:

adverse credit mortgage?

We Answered:

The chances depend in large part on your income (s), & how confident the lender is in how secure you are in your ability to continue earning that level of income, as well as how much other debt you are presently carrying & how much of your income is necessary to maintain those payments.

Another key factor involves the house you are trying to finance. Questions such as how desireable is the property, could it be resold relatively quickly if you were to default, & is the property going to require an exceptional amount of maintenance which might also strain your ability to pay the mortgage.....especially if the interest rate were to jump in later years.

And of course, as you state; the rate you receive will not be the most attractive , & you can expect a larger than usual down payment to give the lender some breathing room if foreclosure occurred.

Still, it generally beats renting!! Get a second opinion from another mortgage broker just to protect yourself.

Good Luck!!

Mario Said:

How easy is it to get a mortgage with adverse credit?

We Answered:

Normally lenders will offer 3 times salary so thats £75,000. Some will go to 4 times but repayments are high. With adverse credit you can still get a mortgage but interest rates are higher. With this in mind (and someone who has had to deal with repercussions of adverse credit) I think you would be unwise to try and raise a mortgage higher than 3 times salary as the repayments will cripple you further, put extra strain on you and ultimately a good chance you will default and damage your rating further not to mention the heartache. I don't know where in the country you are but for me i moved away to a cheaper part of the country but a good area with good schools for the kids and 8 years on I have a home I like and can afford, kids are happy and adverse credit is a thing of the past. I wish you luck and hope you can find your way out too

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