Adverse Credit History

Missed Payments Can Affect Your Credit History

If someone has adverse data then this will generally mean that at some time in the last six years, they have failed to maintain a regulated credit agreement I.E. mortgage, loan, HP or credit card. Information relating to how you have conducted the repayment of any agreement is shared with the credit reference agencies such as Experian and Equifax and this information is then made available to any new credit provider you may approach in the future.

There are different levels of adverse data all of which will remain on your credit file for a six year period, the levels are late payments, this is where you should have made the agreed payment on the 28th of the month and did not pay it until the 10thof the following month, this could indicate to a lender that any future borrowing could be unaffordable.

Consequences When Missing Payments And Agreements

Missed payments where you fail to maintain regular monthly payments this will show a lender that you are 1, 2 or maybe more down on your payments, if this continues then the lender will issue a default notice demanding that the debt is fully repaid within a certain time period, if this does not happen then the default will be registered on your credit file, the more recent the adverse data the more difficult it will be for the borrower to arrange finance.

If the debt remains unpaid for some time then the lender may take the borrower to court and if the court agrees a county court judgement will be registered against the debtor, if then not repaid the borrower would find it extremely difficult to get a lender to lend to them. If in doubt get a copy of your credit report from Experian or Equifax and talk it through with one of our advisers.

Why Frost Financial For A Mortgage

We save you the hassle

Our highly trained, professional advisers work with you every step of the way to make the mortgage process simple, saving you time and effort on one of life’s biggest decisions.

We’re impartial

Going to a bank or estate agent limits your options and could leave you with a deal that isn’t suitable for you. We have access to hundreds of products across the whole mortgage market and can find you the ideal product for your needs.

We can save you money

By hand-picking the best mortgage and negotiating the best rates on your behalf, we can save you up to tens of thousands throughout the term of your mortgage.

Contact our experts without delay

Our experts are on hand to help you! Enquire today by calling us on 01702 554028 or using our contact page.

    Mortgage advisers based in Hadleigh, Essex. We provide a large panel of lenders as well as loans, insurance and equity release.

    Frost Financial Services is authorised and regulated by the Financial Conduct Authority. Registration number: 300133.

    For residential mortgages, your home may be repossessed if you do not keep up repayments on your mortgage.

    With lifetime mortgages you retain 100% ownership. To understand the features and risks, ask for a personalised illustration.


    Frost Financial Services
    Endway House
    The Endway
    SS7 2AN


    Frost Financial Services
    01702 554028


    Equity Release
    01702 861970