Non Status Mortgages

Non Status means you have a bad credit rating, this could be due to any of the following:- being self employed and having no proof of 3 years self employment accounts, having CCJ’s (county court judgments), you may also have credit card arrears, previous mortgage or rent arrears. You might be employed on a temporary basis and have no credit rating. If you cannot provide any proof of income or haven’t got a credit rating, lenders will regard you as having no status. In other words you have to have borrowed finance in the past and successfully repaid the finance in order to be deemed to have a good credit status.

Do not despair there are still some lenders who will offer peple with poor credit a mortgage. You will however probably find that you have to pay a higher rate of interest to the lender due to lack of security. You could find you are asked to pay a larger deposit. If high street lenders will not lend you the money you could try Sub prime lenders known as non conformist or credit repair lenders. They will look into your circumstances and your capability to pay more than they would look into your past credit. Some borrowers may find that adverse credit, or non conforming mortgages are the only way to get on to the housing ladder after being turned down for a conventional mortgage.

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Related glossary terms to Non Status Mortgages:
Adverse Credit | Non Status | Property Valuation | Building Reports

Related Non Status Mortgage Products:
Non Status Remortgage | Non Status Mortgages | Non Status Self Build Mortgages | Non-Status Mortgages