Mortgages For People with Bad Credit Rating or Adverse Credit History

There are an increasing number of lenders who provide competitive remortgages and mortgages for people with credit problems such as CCJs, defaults, mortgage arrears and individuals with a poor credit score or bad credit rating. There are also lenders who will help the self employed, discharged bankrupts and people who have been refused a mortgage elsewhere.

The adverse, sub-prime or bad credit mortgage industry as it’s often known has certainly come out of the shadows in the last few years. A decade ago it was a byword for unscrupulous brokers charging high fees and lenders tying you in with huge rates of interest. Today there is a much broader product range which is more competitively priced, less punitive and more innovative in terms of deals.

Having a poor credit rating can be a deflating and traumatic experience, whatever the reason. But there are deals out there for you. Specialist lenders offer what are known as credit repair deals. Here, you will have to pay a higher interest rate than you would with a conventional deal and put down a deposit of around 10%. However, once you have maintained your payments on one of these deals for a sufficient period (usually about three years) your credit history will have repaired itself. You are then in the position to remortgage back on to a high street deal and reap the benefits of more competitive rates.

Your first stop is to contact a mortgage broker who has experience in the area of adverse credit lending and non standard mortgages. You can do this by simply completing the no obligation contact form on this website. There are about 20 specialist lenders out there and they get most of their business through brokers.

A truly independent broker will look at your individual circumstances and find the best mortgage for you. They can help you find a mortgage even if you have been turned down elsewhere.

Each enquiry will be dealt with by an experienced advisor in a constructive and sympathetic manner. If you have County Court Judgements, credit card defaults, loan defaults, mortgage or rent arrears, bankruptcy, IVA, are self-employed or have difficulty proving your income, they can help you.

Just get in touch, tell us about your situation, then let us do the hard work.