At any point in time there is a significant number of people who cannot access mainstream mortgages or loans because of previous or current financial difficulties such as CCJs.
Where there is something about the borrower that does not fit the standard lending criteria expected by lenders, they are likely to be turned down.
the provision of adverse credit mortgages and loans helps such individuals get into
or sustain home ownership and in many cases gives borrowers an opportunity to
sort out their finances and potentially rebuild their credit rating.
Having a history of County Court Judgments (CCJs) will count against you with some lenders, although others are more welcoming.
Unfortunately there are only a few specialist firms offering adverse credit mortgages and loans. Since the credit crunch things have changed rapidly. Over the past couple of years or so the sector has witnessed the departure of many high street lenders who previously operated via subsidiary firms and specialist providers, including some of the global investment banks.
The increasing numbers of borrowers who fall under what is known as the adverse or sub prime category is a reflection of modern life. The breakdown of traditional family life, more transient employment patterns and the greater reliance on credit means that nowadays a broad spectrum of individuals are likely to be adversely affected by divorce or relationship breakdown, redundancy or ill health at some point in their adult lives. This can lead to money struggles which may result in a CCJ being registered against them for defaulting on payments.
Through this website, you can contact a specialist intermediary (broker) who has access to the full range of mortgages or loans suitable for people with CCJs. Intermediaries play a predominant role in advising on and sourcing suitable loans and mortgages for borrowers who have CCJs or other credit problems..