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Adverse credit* mortgages are now commonplace in the UK mortgage market. Whilst the vast majority of traditional ‘high street’ lenders still insist on borrowers being ‘squeaky clean’ when it comes to their credit rating, it is in many cases the subsidiaries of these financial institutions that are now offering people with impaired, poor or even downright bad credit histories the chance to obtain a mortgage – in many cases at extremely competitive rates.

So if you have previously been made bankrupt, been the subject of an IVA (Individual Voluntary Arrangement) or even had a house repossessed - Abacus can help. Likewise, if you have CCJs (county court judgements), defaults, arrears on your present mortgage or a combination of all of the above - Abacus can help! In some cases, such as self-employment** , applicants often need to self-certify** their income as well. This is permissible, even in conjunction with adverse credit. It is even possible nowadays for first time buyers to obtain a 100% mortgage with an adverse credit history. Higher Lending Charges may apply for a 100% mortgage.

As a result of the increasing complexity of the UK finance market and the increased stresses of everyday living it is quite common for even the most hardworking, responsible individuals to acquire an adverse credit history – perhaps as a result of the breakdown of a marriage or other relationship or maybe as a result of illness, accident or redundancy. Defaults are the most common cause of rejection by a high street lender, but with the majority of such lenders using computerised credit scoring techniques you only need to have missed or been late with a couple of catalogue or credit card payments to fail a credit score with some lenders.

The sub-prime market (as it is professionally termed!) accounts for over 75% of the mortgages that we arrange for clients. We have over 25 years mortgage experience, and backed by the national network of Personal Touch Financial Services Ltd, we have access to all adverse lenders as we source from the whole of market and are therefore able to give truly independent mortgage advice. Our job is not just to find you a mortgage, but to obtain the best possible mortgage for you – based upon your circumstances and requirements.

So whether you are looking to purchase a property or require a re-mortgage on your present home – we can help! The next step is to either telephone us free on 0800 542 7720 or complete the enquiry form by clicking the link. One of our fully qualified mortgage consultants will then contact you to arrange to discuss your requirements in detail.

To view our Initial Disclosure Document please click here.