« Back to articles
This article is for information only. It does not constitute advice. Chase Saunders Ltd does not provide services for savings, investments, mortgages or insurance. You should seek advice on these areas from a qualified financial advisor.
Fall in adverse credit mortgage approvals predicted
Article Category:
Debt Management Help and AdvicePeople who have struggled with
debt problems may find it harder to get a mortgage next year, it has been predicted.
Sarah Robson, press officer for the
Council of Mortgage Lenders, has stated that the body expects lenders to tighten their criteria next year, which could lead to some consumers being excluded from the mortgage market.
Adverse credit
mortgage approvals may become scarce as lenders impose stricter conditions, she said.
"It will be more difficult for people to get adverse credit mortgages since lenders are tightening their criteria."
However, people with a poor credit history who pursue a
debt management plan and are able to meet their mortgage payments may find their credit rating improves, she added.
"If they did have a good credit history for five years straight that would be taken into consideration," said Ms Robson.
Kensington Mortgages withdrew its range of adverse credit home loans last week, citing tighter market conditions.
For more information about
debt management call our advisors on 08000 122 118 for FREE, no obligation help and advice.
Created on 26/11/2007 14:31:31
Debt News
Debt News Archive