Mortgage Rates Payment Calculator UK - what is bad credit?

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What is bad credit?

When lenders and finance houses refer to "bad credit" they generally mean adverse information has been entered on your credit files. These files are maintained and administered by the uk credit reference agencies (Experian and Equifax ).

Individuals can request a copy of their file by post directly from these companies at a cost of £2.00, alternatively you can view a copy online by clicking here

Typical adverse information would include: -

Defaults ( failing to make payments according to contract)

County court judgements (ccj's)

Late payments or arrears on existing/past financial commitments

Bankruptcy past or present

Repossessions

I.V.A. arrangements with creditors

CIFAS entries (fraud)

 if you wish one of our advisors to source best uk mortgage rate on your behalf - click here

We recommend the above option particularly if you have had credit problems ie ccjs, defaults, arrears, repossession or bankruptcy as these can be difficult mortgage cases - more about adverse credit click here

Find best uk mortgage rates and cheapest repayments online using our UK mortgage calculator or use one of our mortgage advisors to guide you through the best lenders and compare monthly mortgage payments