Adverse Credit Mortgage
Many people are declined by mortgage lenders due to “credit bureau information” and then find that they are given no information as to why they have been declined. When in search of answers customers are often referred to a credit reference agency such as Experian or Equifax. Adverse credit can range from something as simple as a missed credit card payment all the way through to an IVA or Bankruptcy. Some lenders still have “blanket criteria” and if you have ANY form of adverse credit they will automatically decline an application.
Can I get a mortgage if I have bad credit?
With help from our specialist advisers, you can get access to a potential mortgage with minimal fuss. Our specialist mortgage advisers will always request that you obtain a copy of your most recent credit file and will be happy to review this for you to advise you what mortgage options are available now or in the future.
They will also work with you to establish if anything on your credit file is incorrect and could be amended to improve your chances of securing the right mortgage for you.
In many adverse credit cases, where the issues are from over 3 years ago, competitive interest rates can still be obtained.
As a mortgage is secured against your home/property it may be repossessed if you do not keep up the repayments.