Can anyone get an adverse credit mortgage?
There are mortgages available for most types of credit problems including, if you have previously missed mortgage payments or had your house repossessed, have a County Court Judgement (CCJ), Individual Voluntary Agreement (IVA) or have been declared bankrupt. However, the more serious your past credit problems, the higher the cost of the mortgage will be. Lenders may also limit the amount they are prepared to lend compared to the value of the property (the loan to value (LTV)) more than they would do on a mainstream mortgage. You may also have to find a bigger deposit than you would for a mainstream mortgage. The more you can show that your problems are in the past, or that you are trying to find ways to reduce your current debt, the wider the choice of mortgages that will be available to you.
