| Adverse Credit Rating? - We can still help |
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 Are you in a bit of Financial bother because of these? Don't worry! - We Can Help! We have helped many people with adverse credit histories get back on the straight and narrow with a Consolidation loan. Debt Consolidation is a very common procedure these days and there are many Companies who will still give credit to People who's credit history isn't perfect. Get in touch now and let us try to get you out of this dilemma. Adverse Credit - the current situation Currently, a substantial number of people have money problems. In lots of cases cases, this reflects commonplace life events such as a marriage breakdown or long term illness. But there are also many instances where people have taken on too much debt and find themselves struggling to cope with repayments. Adverse credit lending provides a much needed opportunity for people with a bad credit record to rehabilitate their finances. Lending to people with adverse credit is a fast growing part of the UK mortgage market. The industry estimates that the adverse credit lending sector represents the 2nd largest specialist sector, buy-to-let being the biggest. Adverse credit lending accounts for perhaps 5-6% of total industry gross advances. The adverse credit market is now very highly competitive, with plenty of new firms entering the sector in recently and most recently several global investment banks. Intermediaries (brokers) sell about four-fifths of adverse credit mortgages. The biggest percentage of adverse credit lending reflects quite low levels of credit adversity, but many lenders can successfully underwrite a complicated and very broad spectrum of different circumstances all the way up to really heavy adverse. Adverse credit lending carries a higher risk profile than prime lending, and this is reflected in a higher level of defaults. The rapid growth in consumer demand for such lending over recent years has contributed to the overall increase in arrears and possessions at the industry level. The FSA continues to be very cautious about this sector, because there's plenty of scope for mis-selling to borrowers. It is also possibly concerned about lenders mis-judging the credit risk in this sector. No systemic problems have been identified to date, but the FSA closely monitors the activities of brokers and lenders who are involved in the adverse credit sector. The deteriorating position for unsecured lending and higher levels of bankruptcies, together with today's higher short-term interest rates, suggests that further growth in the number of adverse credit mortgages is likely. Debt Consolidation Mortgages will always make clear the risks involved and advise Clients dutifully and recommend caution in amounts borrowed as per current Financial Services Authority rules and regulations. |