Think carefully before securing other debts against your home.
Your home may be repossessed if you do not keep up repayments on your mortgage.
Mortgage Glossary
- Mortgage Glossary Choices:
- 100% mortgage
- Arrears
- Buy to let
- County Court Judgements
- Defaults
- First time buyer
- Flexible mortgages
- Individual Voluntary Arrangements
- Keyworker mortgages
- Let to buy
- Non status
- No deposit mortgage
- No proof of income
- Self build
- Self certification
- Self employed mortgage
- Underpayment
Arrears
Having a poor credit history could mean that you have experienced County Court Judgments, mortgage arrears or even bankruptcy in the past. Or it could be that you have made a minor mistake such as a late payment which you did not realise was significant.
An adverse credit mortgage known in the industry as a sub prime or non-standard mortgage, and is specifically for people who have an adverse credit history. It is sometimes referred to as a non-status mortgage or bad credit mortgage.
Mortgage lenders are now taking a more relaxed view on CCJs etc. Quite often mortgages may be given at standard mortgage rates. Your current mortgage lending status may not be as bad as you think, even if you have previously incurred arrears, loan defaults, repossessions or are a discharged bankrupt.