adverse credit mortgages, problem remortgage, CCJs, debt, consolidation mortgage, bad credit mortgages, arrears, poor credit mortgages we can help you.
 
adverse credit mortgages, arrears, CCJs and more MORTGAGE ALTERNATIVES can help YOU! Mortgage Alternatives

0845 833 7500

For adverse credit mortgages, talk to the independent experts, we work for you not the lender, don't let adverse credit ruin your future.
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ADVERSE CREDIT MORTGAGES
Bad Credit? Been refused a mortgage? Got CCJs, defaults, arrears, IVAs, bankruptcy or repossession?
Adverse Credit Mortgages
At MORTGAGE ALTERNATIVES we understand that from time to time people struggle to maintain or make mortgage payments and that sometimes circumstances dictate what is and isn't possible to do with your money.


There are perfectly ordinary reasons that can make getting a mortgage difficult - because of credit "hiccups" like CCJs, arrears, moving frequently or simply being self employed. If you're looking for an adverse credit mortgage, whatever your circumstances, you will be surprised in how many ways a qualified professional adviser can help, whether you're remortgaging to consolidate existing debt, moving house or simply want a better mortgage deal.


You will be assigned a professional adviser who will contact you usually within minutes of submitting this form. If you wish to speak to an adviser immediately simply phone 0845 833 7500.


What are adverse credit mortgages?
These come in a number of guises. Impaired, sub-prime, non-conforming, specialist and adverse all mean the same thing, it's simply that different lenders adopt different terms to represent borrowers who have or have had credit problems in the past. This might be county court judgements (CCJs), previous mortgage or loan arrears, bankruptcy or voluntary arrangements (IVA) with creditors.


The terms light, medium and heavy adverse credit represent the level of adverse credit a borrower may have within each product range. This varies from lender to lender. For example, a light or low adverse product may allow for one missed mortgage or rent payment in the last 12 months and up to £2000 of CCJs. A heavy adverse product, however, may have no limits on payments missed or CCJs - typically, the more adverse credit, the higher the interest rate charged. They may also vary in loan-to-value available.

To obtain whole of market advice from a qualified adviser (who will act for you and not the lender) simply complete the short online enquiry form and press PROCEED.
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CCJs
Upon receiving notification of a County Court Judgement, you have one month in which to pay the amount in full BEFORE the CCJ becomes registered with the Register of County Court Judgements. Once the CCJ has been registered, even if you pay it in full at a later date, it will remain on your credit record for six years.

This will affect your credit history, but it is not the end of the world as it will still be possible to get finance from specialist lenders.
Individual Voluntary Arrangement (IVA)
An Individual Voluntary Arrangement, or IVA, is an alternative to bankruptcy in which the debtor arranges a formal agreement with his creditors to pay off a percentage of his debt over a set period of time, usually around 5 years.

An IVA is often seen as advantageous to bankruptcy as it has less of a negative effect on the person's history and their home remains relatively untouched.

However if you have arranged an Individual Voluntary Arrangement, you will probably be aware that although an IVA makes it much easier for you to keep your home, it is standard for many IVAs to include a clause that stipulates that after a set number of years you will be required to have your home valued and to give your creditors a certain percentage of the equity that has been built up as a final payment.
Bankruptcy


It is important to realize, however, that lending to discharged bankrupts is higher risk and as a result the lenders have to take measures to protect themselves. This generally results in higher interest rates for the borrower or a decreased Loan-to-Value (the percentage of the property value the lender is willing to loan), or possibly both.


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