Bad Credit Finance

There are various types of bad credit finance available in the market place regardless of an adverse credit history following CCJ’s, arrears, insolvency, bankruptcy or petitioned for bankruptcy. Read our guide below covering the different types of bad credit finance;

Bad credit secured loan

These are generally loans which are secured on assets such as property. Most secured loans can be used for any purpose such as home improvements, buying a new car or paying for that dream holiday.

Bad credit homeowner loan

This type of loan is specifically targeted at homeowners who have some free equity in their property which they wish to borrow against. If a homeowner loan application is successful, it can be used to fund a variety of schemes such as clearing existing debts, shopping trips, DIY, car purchase or a holiday, for example.

Bad credit debt consolidation

Consolidation loans can help those who are either struggling with existing debt commitments or would like to rationalise their current borrowings and possibly pay less interest thus lowering their monthly repayments. Quite simply, a consolidation loan combines all of your existing financial commitments and debts into one repayment plan.

Bad credit personal loan

This can either be secured on a property or unsecured. Generally speaking, bad credit personal loans are secured on your home and can be used for any purpose.

Bad credit tenant loan

These are unsecured, meaning they do not rely on any type of asset or property as security. There are specialist lenders and brokers who will consider private and council tenant loans even for those tenants with an adverse credit history.

Bad credit remortgage

Remortgaging is increasingly popular and allows homeowners to free up equity within their home. If you have had previous remortgage applications turned down because of arrears or adverse credit history, there are mortgage lenders who now specialise in this area.

Bad credit mortgage

This type of mortgage is for first time buyers or those who wish to re-enter the housing market despite having a bad credit history.