Adverse Credit

Adverse Credit

This is an umbrella term used of applicants with poor credit history. This may include mortgage arrears, defaults, County Court Judgements (CCJs), bankruptcy, Individual Voluntary Agreements (IVAs) and house repossession. Borrowers with elements of adverse credit are offered higher rates than standard Full Status applicants are, usually with terms and conditions relating to the extent of their adverse credit history. Often, adverse credit mortgages are Libor-linked rates.

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Latest News

  • The FSA recently announced that should the economy see further drops in unemployment and rises in interest rates the Middle Class familis of the UK will be hit the hardest. Such vulnerability is shown due to the increased amount of borrowing over the years and can only be seen as more bad news should these two [...]
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  • The Council of Mortgage Lenders (CML) said UK mortgage lending increased by 14% in December compared with November, to £13.7bn and the market was entitled as being ’surprisingly strong’. The latest figures from the CML show that UK mortgage lending was up 3% in December compared with the same month a year earlier. A CML economist said [...]
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