Adverse credit mortgages may be reducing in number.
According to recent figure adverse credit mortgage figures are falling.
Mortgages to borrowers with a poor credit history have dropped since the peak of the housing market back in 2006. Published figures reveal that bad credit mortgages accounted for under 0.3% of mortgages this year.
Is this because there are fewer people with bad credit or is it because there are fewer mortgages on offer for people with poor credit history?
It is thought that the British public will have a further 2 years of austerity and financial hardship. During this time buyers with poor credit will need help to find a mortgage.
If you have an imperfect credit history you are advised to call Deal Direct, we can source you a mortgage from a specialist lender.
Many mainstream high street lenders are not prepared to loan to those with poor credit, as they consider such borrowers far too high a risk. You may find that you have to apply through a specialist lender, however you may find your options are limited in this area. Impartial help and guidance will therefore be essential to ensure you consider all your options.
According to FSA figures, only 3,000 new mortgages were approved last year in the bad credit sector, this compares poorly to the 900,000 which were approved for standard mortgages.
Finding an adverse credit mortgage may be difficult, however it is not impossible if you call a Deal Direct adviser.
Call today and we will search the market for an affordable mortgage to suit your needs.
