Adverse Credit Mortgages
We Can Help With
When you enter into a financial commitment, you will usually make monthly payments. If you do not make full payments on time you will lower your chances of getting future credit. Missed payments appear on your credit file and the more recent, the more damaging it can be.
A default notice is usually sent after between three and six missed payments and often requiring repayment of the entire sum borrowed. Defaults will show on your credit file and are seen as more serious than arrears as they demonstrate ongoing financial difficulties.
The word “arrears” refers to a repayment that has not been paid in full and is past the date due. On a credit report, arrears is quoted by the number of missed or short payments. The effect of arrears when applying for a mortgage depends on their frequency and recency.
No Credit History
If you are going to take out a mortgage the lender will require evidence that you are going to repay the loan. This can be difficult if you have no record of borrowing and making payments on time, so you may be refused a mortgage, even if you have never been in debt.
A County Court Judgment (CCJ) is a court order that may be registered against you if you do not pay money that you owe. If you do not pay a CCJ in full with 30 days of the date of the judgement it will appear on your credit file where it will stay for six years.
Bankruptcy is a type of insolvency when you are unable to clear your unsecured debts. It is declared on a voluntary basis or by a creditor as a last resort. A bankruptcy order will usually last around a year but will appear on your credit file for up to six years.
A lender can apply to the court for an order to repossess your home if you fail to keep up-to-date with payments that are secured on it. This will, of course, have an effect on your chances of getting another mortgage, depending on the circumstances.
How Can We Help With Adverse Credit Mortgages?
Adverse Credit Experts
Obtaining a mortgage can be very exciting, but it can also be a challenging and stressful time, more so if your credit history is less than perfect. Clients everywhere will appreciate the help and support of our experts on adverse credit mortgages, especially when you are bombarded with conflicting and confusing advice. For us, the process is simple and intuitive, even in this specialist market. We save you time and frustration.
Exclusive Mortgage Deals
As independent brokers, we have access to the whole mortgage market. This means that we can find exactly the right deal and the best rate for your individual circumstances. That may be with a High Street bank or a specialist mortgage lender but we’ll know exactly where to look. Then when we’ve found you a mortgage we’ll gather all the documents and answer all of the lender’s questions to make sure everything runs smoothly.
Free Credit Review
Are you confused by your credit score or credit file? Unsure whether you’ll ever be able to get a mortgage? We’re here to help. Just pop in and see us with your Experian credit report. We’ll assess your chances of getting a mortgage now or in the near future and give you some free help and advice on improving your credit rating. There’s no obligation and because we know that life’s not always simple we won’t judge you either.
Some Useful Resources
Adverse Credit Mortgage Enquiry Form
To request a callback from a specialist mortgage advisor please complete and submit the form below:
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Ian and Lynn provided the best service possible. After initially being rejected a mortgage, Ian did not give up so easily and managed to get a mortgage approved with another lender. Both Ian and Lynn helped to make the process go as smoothly as possible despite a number of problems that arose. Thanks to them a dream is almost reality. Thank you Ian and Lynn!! would recommend using The Mortgage Store to any one!
Being self-employed and getting back on the housing ladder was a daunting prospect. But Ian put my fears at rest and found us the right mortgage that suited our needs and met the bank’s criteria. If you have been turned down elsewhere don’t give up, speak to Ian.
I am writing this to say we can not thank you both enough, what started off as an idea has taken us all on an emotional journey but we have ended at success. If it wasn’t for you both we would have given up, it was a rare opportunity for us to be given the deposit, but money is not all one needs to buy a house.
You guys have given your all and both Garreth and I know it has been frustrating for all of us many times. It was not a conventional buy and we definitely were not conventional clients. But your service goes beyond just your jobs it screams of actual care for your clients.
We have shared tears (well mostly mine) and laughs and fears as well as excitement. I don’t think we will be doing this very soon but no one knows the future. If fate decides that we do, we will never think twice about getting The Mortgage Store involved.
Once again THANK YOU we could have never of done it without you.
Ian was quick and easy to work with who sorted our mortgage out in less than an hour, just cut to the chase – No hidden fees or costs…. Even if you think you can’t get one, go in and see him, and let him work his magic! 10/10 Service! – Highly recommend.
I went to Ian thinking I would be unable to get a mortgage. He helped me sort everything so that it was achievable and I happily bought my house in Dec 2016. With Ian’s help, the whole process was stress-free and he is easy to talk everything through with and gives advice you can understand. I will definitely use him when my fixed rate comes to an end and highly recommend him.