Will I always need a subprime mortgage or bad credit mortgage?
It doesn’t sound much help, does it – a higher rate mortgage, when perhaps you are already in a tight spot financially? But it’s worth noting that the higher rates attached to subprime mortgages or non-conforming mortgages need not always necessarily be the case for you.

Bear in mind that once you have had a subprime mortgage or adverse credit mortgage for three years and have managed to meet the repayments on this each month. You should qualify for a better rate from a high street lender.

Where can I get subprime mortgage or bad credit mortgage advice?
As your circumstances are unique to you, it’s important that you not only get the best value for money, but that you find the loan to suit your needs. At CFS, one of our expert advisers can run through the options available to you, and we will not charge you a penny for the advice we give.

Mortgages with CCJ’s

If you have CCJ’s (County Court Judgements for debt) against your name, then it can prove more difficult to obtain a mortgage from a mainstream lender. CCJ’s can be the result of a difficult financial situation such as being made unemployed, or frustratingly due to a trivial matter of overlooking to pay a small amount. Whatever the reason or amount owed, the outcome will be the same regarding your credit history. A mortgage lender will consider that you have been previously unable to meet the terms of a repayment schedule and that you pose a high risk to them as a result.

Bad credit remortgage

If you have a poor credit history and wish to remortgage, don’t just head automatically for a bad credit specialist. Mortgage lenders used to automatically turn away potential borrowers if they did not fit their lending criteria, but times are changing and lenders are constantly evolving to suit trends. As a result, some mortgage lenders have become more accommodating towards would-be borrowers who have a bad credit history. Credit problems can range from an unintentional failure to pay a small bill, to a large repeated mishandling of personal finance. If your credit history is blighted with a previous problem then you may find that mortgage lenders are reluctant to lend a sizeable sum to you, having already proven yourself to be capable of falling into arrears. Contact us.