Welcome to The Complete Mortgage Company Ltd.

Adverse/Bad Credit Mortgages

If you have a less than perfect credit history then an Adverse mortgage may be for you!

You may have heard of adverse mortgages, non-conforming mortgages, impaired mortgages and especially sub-prime mortgages, but they can all be the same thing. However you’ve heard them described, these mortgages are specially designed for people who have credit issues in the past.

Knowledge is power, that’s what they say. And it’s probably most true when looking for an adverse mortgage, one of the most important things when getting a new mortgage is what your credit file looks like. Credit reference agencies like Equifax and Experian hold information about your credit history, and they will let you have access to this information either by post or most conveniently online. When we know what the lenders will know, we will be able to assess the best way forward for you.

Don’t be fooled either!! Some ‘mainstream’ lenders will allow some misdemeanours, so before you rush into taking a specialist mortgage, allow us to see if we can save you some money with a high street deal.

If you do need to take an adverse mortgage, you will need a fairly large chunk of equity, normally in excess of 25%, and you will also be paying a higher interest rate. Sometimes you need to see this as a means to an end, as these types of mortgage will help to repair your credit file, and if you keep your payments up to date, people often find that getting credit is easier and cheaper in the future.

It could be that you had some missed payments on a credit card some years ago, or a CCJ last week. Whatever your situation it pays to take advice from a broker that knows this market inside out. There are so many variations in criteria, and in what the different lenders will allow, the last thing you would want is to be paying more than you need to.

Please call us on 01480 393393 to see how we can help.