Do only specialist lender offer adverse credit mortgages?
Traditionally this is a specialist market, with lenders that concentrate on understanding and offering the best adverse credit mortgages. However over the past few years the market has developed with more and more high-street lenders entering the market. Many of them have done so under subsidiary brands to distinguish them from their mainstream products. Birmingham Midshires is part of the HBOS (Halifax and Bank of Scotland) group and FNMC is part of Abbey National. Specialist lenders are concerned that you ‘rehabilitate’ and rebuild your credit status but they are also concerned about responsible lending – making sure you can afford the repayments and thereby avoid further debt. Some adverse credit lenders will want all the usual references which might include income proof and some proof of recent loan or mortgage repayments that will help them to decide on the severity of the credit problems and the risk. Specialist lenders tend to assess each case individually and independently. The
