Adverse Credit Mortgages

You may have experienced problems in the past and are now looking for a new mortgage.

Life isn't always plain sailing and you may have experienced a lifetime event that has caused you to experience problems servicing your credit commitments.

 

If you have experienced problems in the past which has resulted in some adverse credit such as missed payments on your mortgage, loans or credit cards.  Or even if you have had a county court judgement or default registered against you, then finding a mortgage is not easy. 

 

However, lenders recognise that people, from time to time, experience financial difficulty and provided it can be demonstrated the problem is historic and that you have recovered from the event (redundancy, losing a family member or a person of ill health), then you may be able to obtain and mortgage or remortgage.

 

We may be able to help if you have experienced some of these problems

 

  • Late or missed payments on your mortgage.

  • Late or missed payments on loans or credit cards.

  • Had a default(s), registered against you for failing to meet your monthly repayments.

  • Been taken to court for debt.

  • Have or have been in a debt management plan

  • Entered into an IVA (Individual Voluntary Arrangement)

  • Been declared Bankrupt

 

Our mortgage experts will firstly sympathetically seek to understand your individual circumstances, what caused the problem and through discussion determine if the problem is ongoing or historic, before sourcing solutions that may be suitable.

Other Types of Mortgages

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THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME
REPAYING YOUR DEBTS OVER A LONGER PERIOD CAN REDUCE YOUR
PAYMENTS BUT COULD INCREASE THE TOTAL INTEREST YOU PAY.

 

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP
REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT

 

CALLS ARE RECORDED FOR TRAINING AND MONITORING PURPOSES

Legal Information

.The Money Bee, which is a trading style of Promise Solutions Ltd and is authorised and regulated by the Financial Conduct Authority– Number 681423. Registered in England, company number 04822774. Data Protection Reference Z8661889
Registered Office: 2nd Floor, Fullard House, Neachells Lane, Wolverhampton, WV11 3QG.

Terms and Conditions

There may be circumstances where we need to charge a fee.  In these instances, we will notify you at an early stage which could be £125.00 upon application and an arrangement fee up to 1% of the advance subject to a maximum of £2500.00, on receipt of the mortgage offer.

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2nd Floor, Fullard House, Neachells Lane, Wolverhampton, WV11 3QG.

2 out of 3 borrowers get a lower rate than our representative example of a regulated secured loan below:

 

Mortgages and Remortgages

Representative example

£80,000 over 240 months at an APRC OF 4.3% and a discounted variable annual interest rate for two years of 2.12% at £408.99 per month followed by 36 payments of £475.59 and 180 payments of £509.44. The total charge for credit is £39,873 which includes a £995 broker/processing fee and £125 application fee. Total repayable £119,873.

 

Secured / Second Charge Loans

Representative example

£63,000 over 228 months at an APRC OF 6.1% and an annual interest rate of 5.39% (Fixed for five years – variable thereafter) would be £463.09 per month, the total charge for credit is £42,584.52 which includes a £2,690 broker/processing fee. Total repayable £105,584.52.

 

Unsecured Loans

Representative example

£4,000 over 36 months at an APR OF 49.9% (fixed) and an annual interest rate of 49.9% would be £216.21, total charge for credit is £3,783.56. Total repayable £7,783.56.