New Bridging Loans For People With A Bad Credit

The secured loan sector has suffered great losses during the big crush of the past few years, which has brought about the introduction of stricter lending criteria from loan providers and a significantly reduced selection of loan deals offered to the customers in search of a secured loan.
The restrictions has been made the most draconian in the area of bad credit loans, where an applicant for a loan has a bad credit rating as a result of previous loan arrears or County Court Judgements (CCJ’s).
Likewise, bridging loans, which provide borrowers with a short term loan that enables them to move house when they haven’t received the money from the new owner of their old home, are now rarely given since the housing and home owner loan markets are still in a very difficult position. 
However, Mayfair Bridging, a lender specializing in bridging loans, is going to launch a new array of bridging loans for borrowers with a poor credit history in order to help them restore their credit rating.
The new product will be known as “unlimited adverse”, which means that it is designed for the borrowers with a heavily adverse credit rating, with an unlimited number of CCJ’s and loan arrears, irrespective of the time they happened.
 


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