Adverse Credit Mortgages
DO YOU HAVE A LESS THAN PERFECT CREDIT HISTORY?
In an ideal world, we would all have the perfect credit score. The reality is that sometimes, whether it be down to forgetting to pay a credit agreement on time, or whether you were facing financial hardship and simply didn’t have the money to meet all of your commitments, this results in negative data on your credit file, which stays on there for 6 years.When it comes to obtaining a mortgage, this matters. A lot. The likelihood of being accepted for a mortgage by a high street lender, if you have even one missed payment on your credit file, is slim. There is good news though, depending on your circumstances and level of adverse credit history, we may be able to help you secure a mortgage.
It is important to get advice from a whole of market mortgage broker. We have access to mortgage products from not only the high street, but intermediary only lenders and lenders specialising in mortgages designed for those with adverse credit history, which are not normally available direct and require you to have had advice from a mortgage professional.
The devil is in the details! Once you make contact, we will complete a comprehensive review of your circumstances. We will also ask you to send us a copy of your latest credit report, which can be obtained from Equifax, Experian or Call Credit (noddle.co.uk). From there we will search the whole of the UK mortgage market, to see if there is a solution. Before even considering putting an application in, we will discuss it in detail with the lender, to ensure that the application fits their criteria and is likely to get accepted, therefore avoiding any unnecessary searches on your credit file.
ALL TYPES OF ADVERSE CREDIT HISTORY CAN BE CONSIDERED!
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YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE
Not all Buy to Let Mortgages are regulated by the Financial Conduct Authority.
You may have to pay an early repayment charge to your existing lender if you remortgage.
There may be a fee for arranging your mortgage, however the precise amount will depend on your circumstances. Typically the fee is £395.