Purchasing a new property is a very exciting time for home buyers. However, for many, the process is made infinitely more stressful by the presence of bad credit. For Tier 2 Visa holders, this can be even more worrying.
Many foreign nationals with a Tier 2 Visa may consider their nationality to be an obstacle. Should a Visa be running out, it can make the situation considerably more stressful. However, Visa holders should not necessarily consider their nationality to be a major obstacle to their chances of finding the right deal. As with all home buyers, Visa holders need to be aware of their credit scores.
Bad Credit Mortgages with Tier 2 Visa
A number of things can contribute to your credit report and your credit score. Negative marks can be caused by:
CCJs – A County Court Judgement in which someone is taking action against you following a missed payment
Defaults – The failure to meet the legal obligations (or conditions) of a loan, such as a home buyer failing to make a mortgage payment
IVAs – An individual voluntary arrangement for those attempting to avoid bankruptcy
Can Just Mortgage Brokers help?
Just Mortgage Brokers have a history of supporting foreign nationals with a Tier 2 Visa, having helped one such customer who had a default from 2011, which was resultant of late payments on an unsecured credit commitment. The time left on her Visa had presented a problem, as she was struggling to acquire a mortgage, further compounded by the stresses of bad credit.
Just Bad Credit were able to place a mortgage on the high street, and also achieve a result that would have been considered extremely favourable, even without the history of bad credit looming over the situation. You can read more about this particular deal here.
Just Mortgage Brokers have access to thousands of mortgage products and some specialist lenders so we can identify the right mortgage deals for your specific needs. Getting the mortgage that you need doesn’t have to be a minefield. Contact Just Mortgage Brokers today to discuss how we can help you acquire the mortgage that you need.