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An adverse credit mortgage is a form of finance now available to the commercial sector as well as the residential. Lenders have now taken a view that they have for too long excluded a large number of individuals and businesses due to them having a less than perfect credit history. This however does not necessarily mean that they are un credit worthy and should be looked upon as a high risk. The adverse credit can be there for a number of reasons and may not have been the fault solely of an individual neither does it mean that it will happen again. It is therefore unfair and not prudent to exclude this sector of clients from obtaining commercial funding.
It is possible to obtain an adverse credit mortgage for commercial purchases or refinancing if you have had problems in the past which include, missed loan and mortgage payments, County Court judgements registered against individuals and businesses, I.V.A’s, arrears and bankruptcy. More traditional lenders such as Banks are unlikely to authorise lending if any adverse credit is present. They do not offer adverse credit mortgages instead remaining very sensitive to risk and therefore inflexible to anything that falls outside their lending criteria.
We specialise in providing adverse credit mortgages to people and businesses that have a less than perfect credit history. If you have been turned down by a bank or other lending institution due to poor credit, call Think Commercial and we can provide you with information and advice on adverse credit mortgages. |
