Adverse Credit

This is an umbrella term used of applicants with poor credit history.

This may include mortgage arrears, defaults, County Court Judgements (CCJs), bankruptcy, Individual Voluntary Agreements (IVAs) and house repossession.

Borrowers with elements of adverse credit are offered higher rates than standard Full Status applicants are, usually with terms and conditions relating to the extent of their adverse credit history.

Often, adverse credit mortgages are Libor-linked rates.

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