What is a on-conforming, sub-prime or adverse credit mortgage?
These are mortgages specifically designed for people who do not qualify for a mainstream mortgage from lenders. They may be suitable in a variety of situations; for example, if you have had credit problems in the past or have difficulty proving a regular or reliable income. Such situations are unfortunately increasingly common. Life changing events such as divorce, unemployment and sickness can sometimes cause you to miss making payments on your mortgage or other financial commitments. These things happen to many people at some stage in their lives, but once such problems are behind you, they should not stop you applying for a mortgage. We have produced a consumer leaflet which is designed to give you information on adverse credit mortgages, and gives answers to some common questions. In November 2006 we produced an article looking at adverse credit mortgage lending – that is, lending to borrowers who have experienced material and recent credit difficulties. Until the recent credit cru
