Who are adverse credit mortgages suitable for?
Statistics reveal that one in five people in the UK have what is regarded as a poor credit rating. People falling under this category have a wide range of occupations, income levels and ages. It may not be a matter of financial mismanagement but simply unemployment or even being in dispute with a company over payment of a bill. Individuals with a poor credit rating are seen as non-standard by high street lenders and as a consequence will have difficult being accepted for a mainstream mortgage product. There are many reasons why people get turned down for a high-street mortgage. Many people may not realise that one of the most common reasons is paying a bill late. Other reasons include having CCJs against you, a bankruptcy in the past or financial problems as a student. Some people, such as those who have lived abroad or recently divorced, may not even have their own credit record. An adverse credit mortgage gives people who are classified as non standard the opportunity to buy or remor
