If you have already suffered a poor Credit History due to late or nonpayment of loans and are looking for a way to re-mortgage, you will need what is known as an Adverse Mortgage product.
First you need to look at you personal credit report. These are available to you for as little as £1 charge and can be obtained from either Equifax or Experian.
You will need to refer to your copy credit report for information required when applying for an Adverse Mortgage product so you can understand if your Credit History matches the lending criteria of the Adverse Mortgage lender.
It is normal for Adverse Mortgage lenders to accept applicants who have a combination of; payment arrears, defaults, CCJ’s and even IVA’s or Bankruptcy orders. It is the quantity of these and how they were satisfied that will determine which Adverse Mortgage product can be applied for.
Contact bankruptcy options today and we will help you find the right solution for you!
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