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NON STATUS - LOW CREDIT SCORE - REFUSED ELSEWHERE
SELF EMPLOYED WITH NO 3 YEAR ACCOUNTS

It's a fact of life, over 40% of UK residents have experienced credit problems.

These range in seriousness from 250 County Court Judgments (CCJs) to full blown bankruptcy of many millions.

What ALL of these cases have in common is a "poor credit rating". In the past it would have been almost impossible to get a loan, secured or unsecured from ANY source.


The demand for loans means mainstream lenders can still be "extremely selective" and ONLY accept loan requests from people with perfect credit scores. They OFTEN turn away or refuse point blank loans for people with less than a perfect credit score

Over the last few years a new type of lender has emerged who service the "SUB PRIME" market i.e. people with a poor credit rating.

Initially, sub prime lending rates were extraordinarily high with costly arrangement fees.

However, due to market forces of "supply and demand" the gap between "prime" and "sub prime" interest rates have narrowed dramatically.

In some cases a sub prime lender will now ignore minor CCJs and defaults and even in the most extreme bankruptcy cases, they will often provide reasonable solutions providing the loan can be secured on property WITH equity.

Arrangement fees for sub prime loans are now VERY competitive and depending on your personal circumstance non existent.