Adverse Credit Mortgage
Many people are declined by mortgage lenders due to “credit bureau information” and then find that they are given no information as to why they have been declined. When in search of answers customers are often referred to a credit reference agency such as Experian or Equifax. Adverse credit can range from something as simple as a missed credit card payment all the way through to an IVA or Bankruptcy. Some lenders still have “blanket criteria” and if you have ANY form of adverse credit they will automatically decline an application.
As a mortgage is secured against your home/property it may be repossessed if you do not keep up the repayments.