- Quick Chat?
- 0330 159 6627
- Quick Chat? | 0330 159 6627
- mon-fri 8am-8pm
- Quick Chat? | 0330 159 6627
- mon-fri 8am-8pm
If you have bad credit and are looking to secure a mortgage, you may have a few concerns. You have probably heard that getting a mortgage with bad credit is difficult, if not impossible. The truth, however, is that things have changed. Our Bad Credit Mortgages Guide explores your options.
With a growing number of people experiencing some form of credit issues, mortgage lenders have become a little more flexible in their approach. In our guide, we’re going to take a look at what bad credit mortgages involve and consider who may be eligible.
Lenders will look to your credit report for reassurances that you can honour your commitments. In simple terms, they want to see that you can pay back whatever you borrow. A history of late payments or defaults will cause lenders concern. While a credit score is important, these differ from one agency to another. What really matters is how you manage your commitments so that lenders can trust you.
If you have bad credit, there are still lenders who will allow you to remortgage. A poor credit rating may see you paying a higher level of interest or having options that are slightly limited, but it is still perfectly possible. By talking with us, we can run you through all of your options.
Yes, you can still get a mortgage with CCJs & defaults! it’ll be a little more tricky than if you had a ‘perfect’ credit history but its still possible! you’ll need to apply to a specialist lender who deals specifically with people who’ve had credit issues.
CCJs and defaults stay on your credit report for six years and will affect your overall ‘credit score’ but the most important thing will be the dates they were registered, whether they have been paid off & the original amount they were for.
A specialist mortgage broker like mainly mortgages can find out your options.
If you are looking at a bad credit mortgage, there are steps that you can take to increase your chances of being accepted. These include:
The most useful step that you can take is to get in touch with us at Mainly Mortgages. We are the experts when it comes to assisting those with bad credit to secure a mortgage.
A mortgage is a loan secured agains your home. Your home may be repossessed if you do not keep up repayments on your mortgage or any other debt secured on it.
Registered Office:
Regent House Business Centre, 13-15 George Street,
Aylesbury, HP20 2HU.
Registered in England and Wales under
number 11085103.
Mainly Mortgages Ltd is authorised and regulated by the Financial Conduct Authority under number 923399 in respect of mortgages, insurances and consumer credit mediation activities only.
Subject to circumstances, a fee may be payable. Typically £99 on application & £600 on completion.
If your circumstances or history involves any adverse credit, complex situations or a commercial element then this may increase to a maximum of £2999 with £99 payable upon application. Your adviser will, in all cases, confirm all costs in writing prior to any application being made
