Looking for a mortgage is a complicated business and can be stressful if you have a bad credit history. Multiple lenders might have knocked back your applications but don’t feel as if you are alone as an adverse credit mortgage is a real possibility with the right advise from bad credit mortgage specialists.
In general if you are seeking a mortgage or Remortgage, a red flag will be raised from potential lenders if the following credit events are noted on your credit file :
Bankruptcy declared within the last six years
If you are on a debt management plan
You have missed a credit card payment
You have missed a mortgage payment
You have missed a loan payment
You’ve been unable to keep up with your minimum payments for loans, credit cards, store cards or hire purchase agreement
There are, however, some lenders that are willing to give you a chance. Generally only available through mortgage brokers these lenders are still competitively priced and allow for all or some of the credit issues listed above.
Allowing a mortgage broker to accurately assess your situation will allow them to advise you not only on the best lender that is available now but also the likely time frame, assuming no further adverse credit is registered, in which you will be able to switch back to a high street lender in the future.
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Do you need to raise or save money? Whether you want to release equity, consolidate debts or simply lower your monthly costs, a remortgage could literally save you thousands of pounds.
Fed up with trawling through price comparison websites? Finding the right mortgage on the internet is no easy feat. Especially since the best deals aren’t necessarily visible online. We source mortgages from a large panel of lenders across the market.
Are you getting the most from your insurance? Whether we’re providing you with a new mortgage or a remortgage, insurance is a key consideration. Over time certain insurers will be more competitive than others.