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    • tain
    • By tain 13th Jul 17, 9:34 PM
    • 464Posts
    • 588Thanks
    tain
    Simply Adverse - worth it even if no adverse credit?
    • #1
    • 13th Jul 17, 9:34 PM
    Simply Adverse - worth it even if no adverse credit? 13th Jul 17 at 9:34 PM
    We've approached Simply Adverse as we're applying for a mortgage and am concerned about historic defaults many a moon ago while on a debt management plan.

    We've not had a definitive response from a run of the mill broker, so we approached SA to clarify our situation from the point of view of someone that will know the market. They did advise us, and told us we could definitely get a mortgage, decision in principle, etc.

    My issue is, the mortgage size they offered is only a little less than the main high street banks, and the rate is pretty much the same. If our old adverse credit was in any way an issue, I'd expect it to be noticeable.

    So it got me thinking - is this because SA are excellent, or because they don't search all the market and as such that's the best they can do? When I asked SA where on my credit file it showed any adverse credit, they skirted the answer and didn't give me a reason or any evidence.

    The reason we ask is because we'd like to borrow just a small amount more, which is easily affordable (and in line with high street lenders). If SA are excellent, then I'd trust them. But if they're being sneaky so we still put our mortgage through them when we could have used anyone, I'd be a little miffed.

    I'm going to try other mortgage brokers, but I've had a number of them just not call me back when I mention debt management plans. Trinity and L&C.
Page 1
    • glosoli
    • By glosoli 13th Jul 17, 9:36 PM
    • 633 Posts
    • 366 Thanks
    glosoli
    • #2
    • 13th Jul 17, 9:36 PM
    • #2
    • 13th Jul 17, 9:36 PM
    How long ago is many moons ago? What exactly did you have? How much are you looking to borrow and what are your incomes?
    • ACG
    • By ACG 13th Jul 17, 10:00 PM
    • 15,400 Posts
    • 7,786 Thanks
    ACG
    • #3
    • 13th Jul 17, 10:00 PM
    • #3
    • 13th Jul 17, 10:00 PM
    Simply Adverse are whole of Market - I was at their offices last week as I know the owners. They have seen your credit reports and so know your circumstances better than we will.

    Adverse can still be picked up after it has dropped off your credit report for various reasons - if it was registered at a rpevious address and you have not put it on your credit report it may not show up and sometimes lenders hold a grudge and keep things logged internally for more than 6 years. Bare in mind that some lenders are linked despite different names - RBS/Natwest as a prime example.
    I am a Mortgage Adviser
    You should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
    • tain
    • By tain 13th Jul 17, 10:06 PM
    • 464 Posts
    • 588 Thanks
    tain
    • #4
    • 13th Jul 17, 10:06 PM
    • #4
    • 13th Jul 17, 10:06 PM
    How long ago is many moons ago? What exactly did you have? How much are you looking to borrow and what are your incomes?
    Originally posted by glosoli
    Not had any defaults or anything for over 6 years, finished the debt management plan 5 years ago (but no trace of this on my file).
    • tain
    • By tain 13th Jul 17, 10:08 PM
    • 464 Posts
    • 588 Thanks
    tain
    • #5
    • 13th Jul 17, 10:08 PM
    • #5
    • 13th Jul 17, 10:08 PM
    Simply Adverse are whole of Market - I was at their offices last week as I know the owners. They have seen your credit reports and so know your circumstances better than we will.

    Adverse can still be picked up after it has dropped off your credit report for various reasons - if it was registered at a rpevious address and you have not put it on your credit report it may not show up and sometimes lenders hold a grudge and keep things logged internally for more than 6 years. Bare in mind that some lenders are linked despite different names - RBS/Natwest as a prime example.
    Originally posted by ACG
    If they're whole of market and would get me as good a deal as the next guy, then we'd be happy to stay with them.

    To answer the points made - no previous address (lived here over 30 years), and most of my bad credit was with Halifax, plus I think two others. I'm sure that links a few, but that would be the case for any lender anyway, not just Simple Adverse.
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