Are You Finding It Hard To Get a Mortgage Due To Bad Credit?
Has a bank or another adviser said NO!
With our specialist team, experienced in helping clients with CCJ’s, Arrears, Missed Payments, Defaults, IVA, DMP, Bankruptcy or even just a low credit score.
The key is knowledge, being established over 35 years, we have a wealth of knowledge with regards to our lenders criteria and have helped many clients over the years where we have turned a NO into a YES.
How can a Mortgage Broker help?
Our job as Mortgage Advisors is to research the mortgage market on your behalf and give you clear recommendations about how you can achieve your property goals. We’ll explain how a Mortgage Lender might see you and how you can maximise your borrowing potential.
Every lender has their own criteria and will consider bad or adverse credit in different ways. We understand which lenders will suit your situation best, and compare their products looking at interest rates, fees and criteria.
By looking at your credit file we will give you clear and honest feedback about whether your credit report will be acceptable to a lender. We sometimes give our clients advise to wait between 3 and 12 months before applying for a mortgage and focus on improving their credit situation first.
Why Choose Us?
Expert Mortgage & Protection Advisers
Friendly and Personal Approach
Professional Advice Tailored to You
Build Long-Term Relationships
Speak To An Expert
We’re able to tap into our local knowledge to guide you through your house purchase in your chosen area.
Why Is The Deposit Amount Critical If I Have Bad Credit?
Every lender wants reassurance that you will repay the money that you want to borrow. If you can put down a larger deposit, you’re showing your commitment to the house purchase, and you will also reduce the size of the monthly repayments on your mortgage. This is a good sign to a lender and will make them see you as a less risky customer. Smaller repayments are also less likely to lead you into further debt.
If you can put down 20% of the property price in a deposit – or more – you will vastly improve your chances of finding a mortgage at a competitive rate.
What If My Application’s Declined Due To Credit Score?
Being declined for a mortgage is nothing personal. It is simply a sign that you don’t fully meet the lender’s criteria and their score rating. It’s very rare for one of our clients to get rejected, as we will only put you forward for a mortgage that is very likely to accept you.
As someone seeking a mortgage with a low credit score, finding the right lenders is crucial. We will know the mortgage providers that cater for those with a low credit score or adverse credit. We will talk to the lender and check that you meet all their criteria before recommending that you apply.
How Can I Improve My Chances of Mortgage Acceptance?
An important first step is to check that your credit record is accurate. An error can be corrected quite easily. Then, focus on improving your credit rating by repaying any debts, paying all bills on time and staying within your credit limits.
Most importantly of all, contact a good Mortgage Broker. We will advise you at every step: setting your property budget, seeking out the lenders offering bad credit mortgages and ensuring that they recognise you with a low credit score. We will also make sure you avoid future debt problems by ensuring that your mortgage is truly affordable.
Your home may be repossessed if you do not keep up repayments on your mortgage
