The Abundance Of Home-saving Mortgages For People With Poor Credit History.
Did you know that every day the Citizen Advice Bureau deals with over 5000 new debt problem enquiries? And with interest rates rising, the chances are that more people will face problems with their debt – in fact there is likely to be a ten-year high for county court judgements in 2007 with around 1 million CCJs in total.
Getting a mortgage with poor credit can be a nightmare High St lenders will usually refuse your application if you have a default or a CCJ on your record. So what can you do about it?
There are two main credit reference companies in the UK contacting either one will enable you to find out what your credit rating is. However, if you have a County Court Judgement or a default then it is highly likely that your credit rating has been compromised.
A mortgage default is any violation of the credit agreement you have with your mortgage lender and could be issued even if you have only missed one payment. A default is registered on your credit file showing the date you broke your credit agreement, the amount you owed when the agreement was broken and the...
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