Adverse Credit Mortgage Specialists

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Adverse Credit Mortgage Specialists in the UK

Are you struggling to secure a mortgage because of adverse credit? You’re not alone. Many people in the UK face challenges when trying to buy a home or remortgage due to a poor credit history. Fortunately, there’s help available. Our team of adverse credit mortgage specialists is here to guide you through the process and help you find the right mortgage, even with a less-than-perfect credit score.

What is an Adverse Credit Mortgage?

An adverse credit mortgage, sometimes called a bad credit mortgage, is designed for individuals who have experienced financial difficulties in the past. Whether it’s missed payments, defaults, County Court Judgments (CCJs), or even bankruptcy, having a poor credit score can make it hard to get approved for a standard mortgage. However, specialist lenders in the UK understand these situations and offer tailored mortgage solutions for people with adverse credit.

Our adverse credit mortgage specialists work closely with these lenders to help you find a mortgage that suits your unique circumstances.

Why Choose Our Adverse Credit Mortgage Specialists?

Experienced Advisors

Our team consists of highly qualified and experienced adverse credit mortgage specialists who understand the UK market inside out. We’ve helped countless individuals and families secure a mortgage despite having adverse credit, and we can help you too.

Tailored Solutions

We know that every financial situation is different. That’s why we take the time to understand your specific needs and circumstances. Whether you’ve had defaults, missed payments, or even a bankruptcy, our specialists will work hard to find a mortgage that’s right for you.

Access to Specialist Lenders

Unlike high street banks, which may turn you away if you have adverse credit, we have access to a network of specialist lenders who are more flexible. These lenders understand the challenges of adverse credit and offer mortgage products designed to help you get back on track.

Support Throughout the Process

Navigating the mortgage process can be overwhelming, especially with adverse credit. That’s why our team is with you every step of the way. From the initial application to securing your mortgage offer, we provide personalised guidance and support.

Don't Let Past Credit Issues Stop You from Owning a Home

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Can I Get a Mortgage with Adverse Credit?

The short answer is yes! While traditional lenders may be cautious about lending to individuals with poor credit, adverse credit mortgage specialists like us can connect you with lenders who are willing to take a more flexible approach. The key factors that will determine your eligibility include:

Credit history: While adverse credit can affect your ability to get a mortgage, it doesn’t mean it’s impossible. Specialist lenders look beyond your credit score and consider the bigger picture.
Deposit size: Having a larger deposit can increase your chances of being approved for a mortgage with adverse credit.
Affordability: Lenders will assess your current financial situation to ensure you can afford the mortgage repayments, even if you’ve had issues in the past.

Common Types of Adverse Credit Issues

Our adverse credit mortgage specialists can help you secure a mortgage even if you’ve experienced:

  • Missed payments on credit cards, loans, or mortgages
  • Defaults on credit agreements
  • County Court Judgments (CCJs)
  • Individual Voluntary Arrangements (IVAs)
  • Debt Management Plans (DMPs)
  • Bankruptcy

No matter your situation, we are here to provide expert advice and help you take the next steps towards homeownership.

How to Improve Your Chances of Securing an Adverse Credit Mortgage

While we work hard to connect you with specialist lenders, there are some things you can do to improve your chances of being approved for a mortgage with adverse credit:

Check your credit report: Make sure there are no errors or outdated information on your credit file.
Pay down existing debts: If possible, reduce your outstanding debts before applying for a mortgage.
Save for a larger deposit: A bigger deposit can make you a more attractive borrower to lenders.
Avoid applying for too much credit: Too many applications for credit can negatively impact your score, so try to limit this before applying for a mortgage.

Contact Our Adverse Credit Mortgage Specialists Today

If you’re ready to take the first step towards securing a mortgage despite your adverse credit, we’re here to help. Our team of adverse credit mortgage specialists is ready to guide you through the process and find the best mortgage solution for your needs.

Don’t let a poor credit history hold you back from owning your home. Contact us today to speak with one of our experienced mortgage specialists and get started on the path to homeownership.

FAQs

What is an adverse credit mortgage specialist?

An adverse credit mortgage specialist is a mortgage advisor who focuses on helping individuals with poor credit histories secure mortgages. They work with lenders who are more flexible in their criteria and understand the challenges faced by people with bad credit, including missed payments, defaults, CCJs, or even bankruptcy.

How can an adverse credit mortgage specialist help me?

Adverse credit mortgage specialists have access to a wide range of lenders who are willing to consider applications from individuals with poor credit. They understand the complexities of adverse credit and can help you find the best possible mortgage deal tailored to your financial circumstances. They also guide you through the entire application process, increasing your chances of approval.

Do I need a larger deposit if I have adverse credit?

Yes, in many cases, having adverse credit means that lenders may require a larger deposit, often ranging from 15% to 25% of the property’s value. However, your specialist can help you find lenders with more flexible terms, depending on your specific situation.

 

Can I get a mortgage if I've been declined by a bank?

Yes, being declined by a high street bank doesn’t mean you can’t get a mortgage. Adverse credit mortgage specialists work with specialist lenders who cater to people with poor credit histories. These lenders assess your overall financial situation, not just your credit score, making it possible to secure a mortgage even after a decline.

What types of credit issues can an adverse credit mortgage specialist help with?

Specialists can help with various credit issues, including:

  • Missed or late payments on loans or credit cards
  • Defaults on credit agreements
  • County Court Judgments (CCJs)
  • Debt management plans (DMPs)
  • Individual Voluntary Arrangements (IVAs)
  • Bankruptcy or repossessions

No matter your credit history, a specialist can work to find the right mortgage for you.

Will using an adverse credit mortgage specialist improve my chances of getting a mortgage?

Yes, working with a specialist increases your chances because they have access to lenders who are open to working with individuals who have poor credit. They also know which lenders are most likely to approve your application, which helps avoid unnecessary credit checks that could further impact your score.

How long does the adverse credit mortgage application process take?

The timeline varies depending on your circumstances and the lender. However, the process usually takes a few weeks from application to approval. Working with an adverse credit mortgage specialist can help streamline the process, ensuring that all paperwork is handled correctly and efficiently.

Can I improve my credit score while applying for an adverse credit mortgage?

Yes, it’s possible to take steps to improve your credit score while going through the mortgage process. Paying down existing debts, avoiding new credit applications, and ensuring all bills are paid on time can help. Your adverse credit mortgage specialist can offer guidance on how to improve your financial situation.

Will my credit issues stay on my record forever?

No, most credit issues remain on your file for up to six years, including missed payments, defaults, and CCJs. After this period, they will no longer appear on your credit report, potentially improving your chances of getting a better mortgage deal in the future.

Is it more expensive to get a mortgage with adverse credit?

Yes, interest rates on adverse credit mortgages tend to be higher than those for standard mortgages, reflecting the increased risk to lenders. However, as you rebuild your credit over time, you may be able to remortgage at more competitive rates in the future.

How much does it cost to use an adverse credit mortgage specialist?

Costs can vary, but many adverse credit mortgage specialists charge a fee for their services. This can be a flat fee or a percentage of the mortgage amount. It’s important to ask about fees upfront, so you understand the costs involved.

Will an adverse credit mortgage specialist run a credit check?

Yes, but specialists often perform a “soft check” initially to assess your financial situation without affecting your credit score. Once you proceed with a specific lender, a full credit check may be required as part of the formal application process.

Can I still remortgage if I have adverse credit?

Yes, if you’re looking to remortgage but have adverse credit, a specialist can help you explore your options. Whether you’re looking to release equity or find a better rate, adverse credit mortgage specialists can help you identify lenders willing to offer remortgage deals to people in your situation.

How do I find the right adverse credit mortgage specialist?

Look for specialists with a strong reputation and experience in dealing with adverse credit cases. Reading online reviews, asking for recommendations, and checking for proper qualifications (like being a member of the Financial Conduct Authority) can help you find a reliable expert to assist with your mortgage needs.

Can I still get help if I'm self-employed and have adverse credit?

Yes, even if you’re self-employed and have adverse credit, there are specialist lenders willing to consider your application. Adverse credit mortgage specialists understand how to present your financial situation effectively to these lenders, increasing your chances of approval.

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