Here at Just Mortgage Brokers we take pride in helping our clients to find the very best deals when they require bad credit mortgages. Our aim is to make it much easier for you to find an impaired or adverse credit mortgage regardless if you have a poor credit score.
We understand that it can be difficult to find a lender willing to provide mortgage for bad credit, but with help from our specialist advisers, you can get access to a mortgage with minimum fuss.
Getting a Mortgage With Bad Credit
Whether you are a first time buyer or a homeowner whose looking to move or remortgage, we will search the whole of the market to ensure you get the very best mortgage for your circumstances. Our team of dedicated professionals will always be on hand with their impartial, expert advice to help you find the right mortgage and guide you through the whole process.
What is An Adverse Credit Mortgage?
An “adverse” credit mortgage is much the same as those with “bad credit”, it is when you have a low credit score or previous issues which may make it harder for you to get a mortgage (or other types of credit).
What Causes “Adverse” credit?
- Debt Management Plan
- Missed or Late Payment
But it is often not as bad as you think, those people who have had credit issues in the past could still get a mortgage – here at Just Mortgage Brokers we specialise in helping our clients who have almost given up hope.
We have a wealth of experience in dealing with mortgage lenders who are more sympathetic towards our clients, who may have experienced credit issues in the past. We maintain excellent relationships with these lenders, to give you the best possible chance of obtaining a mortgage with bad credit.
Here at Just Mortgage Brokers we have an in depth FAQ sections which looks at any of the more major questions you may have – which can be found here – although we’ve put our most commonly asked below:
Getting a mortgage with bad credit can be tough and many applicants who find themselves in this situation, generally do not know the best way to approach it.
A poor credit background may make things tougher for you, however, there are some steps we can aid you in to repair your credit rating, if you get a copy of your credit report we can best advise the steps you can take.
If you’re concerned that you have a poor credit score, there is still a strong chance that you can get a mortgage. Many people’s perception of what a “poor credit” score is varies, and what most don’t realise is that having a black mark on your credit file is far from a significant problem for those looking to buy a house or remortgage.
Very little, they mean the same thing for the purposes of getting a mortgage. Some people may feel their credit rating is “bad” or others may have told that their credit history is “adverse”. These are two ways of saying the same thing – we can help with both.
It’s very hard to say exactly as lenders look at different criteria when they assess a mortgage, but if you’ve got CCJs, any recent defaults or IVAs or you’re on a Debt Management Plan you may need to seek specialist advise like Just Mortgage Brokers in order to obtain the right mortgage for you.
Even with a poor credit history, it should still possible to find a competitively priced mortgage, but you will have to look a little harder than those applicants with a better credit record. It’s very unlikely that you’ll find the best bad credit mortgage deals on the high street. Some of the mainstream lenders may consider smaller, historical issues, but most will probably refuse your application.
The reality is that there is a huge range of different lenders out there, and just because you don’t tick all the boxes of a mainstream lender, that doesn’t mean you’re not going to be able to find a suitable deal elsewhere – you just need to know where to look!
It’s really all about the level of risk you represent. There are undoubtedly some adverse credit events, such as a bankruptcy or CCJs, which will seriously affect your credit history; but there are still plenty of steps you can take to repair your credit score.
For example, you might have a CCJ on your record from four or five years ago. In that time, if you have used credit responsibly and made all your repayments on time, your credit score may be healthy once again. However, because the CCJ will still appear on your credit report, you might not meet the strict lending criteria of a mainstream lender.
Bad credit mortgage deals can sometimes be more expensive, due to the perceived additional risk the lender is taking on. Although with the right mortgage and finding the right lender we can still find you the right deal.
No, we have unlimited access to the market which means we can go that extra mile to find you the mortgage which is right for you.
In short, you only need to pick up the phone or send us a message. However, if you can obtain a copy of your credit report and have that to hand when you speak to us, this will speed up the process.
It is important as part of this process that you do not make multiple searches on your credit file when you are looking for a mortgage. This is typically caused by applications for credit cards, finance options, loans etc. Whilst doing this doesn’t stop you from getting a mortgage, it can be warning sign for some lenders.
If you’ve got any questions which we haven’t answered here, then please get in touch and one of our expert advisers will get back to you as soon as possible.