What is impaired credit?
- Impaired credit is a result of a deterioration in the creditworthiness of an individual or entity.
- Any borrowers with impaired credit will, in general, have reduced accessibility to mortgage facilities and will have to pay a higher rate of interest on mortgages.
- Having impaired credit could require dramatic changes to operations or procedures to ease financial stress–whether that involves paying off debts like credit card debt, or a company reducing expenses and selling assets.
Although the rates may be higher, we do have access to lenders that will lend to clients with impaired credit. Fill out the form below and we will be in touch with you.