Welcome to Bad Credit Mortgages

Been declined a mortgage?

Despite what large high street banks and building societies say, mortgages are available for those with a poor credit score or bad credit history. We specialize in finding mortgages for people with past credit or debt problems so if you have had any of the issues below, let us help you get into your dream home.  

Poor credit score and declined mortgages
County court judgements
Defaulted on a loan or missed payments
Mortgage arrears
Debt Management Plan
IVA’s
Discharged Bankruptcies
Previous Repossessions
Zero hours, agency and fixed term contracts
Self-employed with only 12 months history  

Complete the mortgage inquiry form and an FCA regulated mortgage adviser will be in touch

Think you can't get a mortgage

 

Free advice and no upfront fees With access to thousands of mortgages, including many that are not available from the high street banks, our specialist mortgage service can help you find the right mortgage even if you have a less than perfect credit history. Whether it’s past credit problems, a poor credit score or simply your bank saying no, don’t give up securing your mortgage until you have spoken to us. 

Complete the form under the contact us page and an FCA regulated mortgage adviser will be in touch 

What is a bad credit mortgage?

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Bad credit mortgages are the same as standard mortgages, the only difference is there are lenders who will offer a mortgage to those who may have been declined due to a failed credit score with other lenders. Bad credit mortgages can sometimes be referred to as adverse mortgages, we can help people with poor credit histories get onto  the property ladder. Interest rates and charges tend to be higher as people with poor credit ratings are deemed to be a higher risk. But after a few years of paying a bad credit mortgage on time it  should ‘repair’ your credit rating sufficiently to be able to move yourself to a more appropriate lender to your circumstances.

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Getting a mortgage with bad credit can be tough and many applicants who  find themselves in this situation, generally do not know the best way to  approach it.  A poor credit background may make things tougher for you, however, there  are some steps we can aid you in to repair your credit rating, if you  get a copy of your credit report we can best advise the steps you can  take. 

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If you’re concerned that you have a poor credit score, there is still a  strong chance that you can get a mortgage. Many people’s perception of  what a “poor credit” score is varies, and what most don’t realise is  that having a black mark on your credit file is far from a significant  problem for those looking to buy a house or remortgage. 

How do I get a mortgage ?

Before looking for any mortgage it is a good idea to check what is on  your credit reference agency file to see if you have any credit  problems. You should also avoid making lots of applications for credit, as these searches will affect your credit rating. You may also wish to speak to your current account provider to see what mortgages they offer and explain to them your credit history  situation. If they have no products suitable for you, then at least you  know without having to make an application. It’s also highly recommended that you compare a wide range of  mortgages to find the best deal for you. It’s essential that you compare  the total cost of different mortgages, taking into account fees and  charges too. 

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Can I improve my credit rating

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Here are some things you can do, which could improve your credit  rating and possibly increase your chances of being approved for a bad  credit mortgage.  

  • Make sure you’re on the electoral roll
  • Pay all your bills on time and in full including all gas, electric, mail order and telecommunications
  • Close any credit accounts you don’t use, even if you have had only had them a short time as they reduces your average in months
  • Consider applying for a small credit card to improve your credit rating but DO NOT take out a pay day loan to do that
  • Sustainable borrowing with a guarantor loan could improve your credit score
  • Check your credit report regularly to make sure that all the  information is correct. If you notice any errors, contact the relevant  lender and ask for them to be corrected

Remember, doing all of these things is no guarantee that your credit  score will have improved enough to be approved for a bad-credit  mortgage. It takes time for your credit score to recover if you have  been rejected multiple times or missed multiple repayments. Each mortgage provider will have their own criteria for eligibility,  but generally these amendments to your personal finance habits could  help improve your score. Checking your credit score could save you the trouble of applying for  a bad credit mortgage and having the rejected application show up on  your profile to future credit and mortgage providers. 

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We realise some people are reluctant to discuss personal finances over the telephone, but rest assured we will deal with your enquiry sensitively and in confidence.  In the first instance you may wish to make your enquiry online which you can do so by completing the section below.

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Contact Us for Free Advice

THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME.   YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A  MORTGAGE OR ANY OTHER DEBT SECURED ON IT. IF YOU ARE THINKING OF CONSOLIDATING EXISTING BORROWING YOU SHOULD  BE AWARE THAT YOU MAY BE EXTENDING THE TERMS OF THE DEBT AND INCREASING  THE TOTAL AMOUNT YOU REPAY.