Mortgagemap

Bad Credit Mortgage

Can I get a mortgage with bad credit? Well that's a question we get asked an awful lot of times, and the quick answer is yes. But, and it's a fairly big but, it is not easy by any means and I'd be wary of anyone who tells you that it's easy!

If you are looking to Remortgage it is easier for sure, especially if the size of mortgage you are after is low in comparison to the value of your property.

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Bad Credit Mortgage Lenders

So Bad Credit Mortgages are still possible to arrange even in these difficult lending times.
Poor credit rating, huge credit card and loan debts, CCJ's, mortgage or rent arrears, defaults, IVA's etc? One or more of the above means that most mortgage lenders will view you as a "bad credit mortgage" case.

Arranging a bad credit mortgage or loan can be easier than you think, we have advisers who can definitely help you. Our enquiry service is free to use and there's no obligation, so just fill out the form and we'll do the rest.

Click here for a Free copy of your Credit Report from Experian, the UK's largest credit reference agency.We can still get you a mortgage if your circumstances are out of the ordinary, due to bad credit problems.

A truly competitive mortgage market has lots of advantages. With lenders fighting for business they will work harder to attract new customers. This means lower prices better service and in many cases a more personal approach to lending policy.

Borrowers are considered on past credit history and payment profile apart from the normal income, outgoing and employment status.

As a rule of thumb the mortgages and remortgages available to a prospective borrower will be dependent on the nature of any credit problems, their severity and when they were registered on their credit file.

The more recent the problems and the higher the value will generally be reflected in the interest rates of the products available.

The majority of lenders who offer these products allow for a certain level of credit problems on a specific product and up to a certain loan to value (LTV), as above this will be reflected in the rate. It's worth bearing in mind that the lower the LTV is, the less risky it is for the lender.

The really good news is that the gap between the high street lenders and the adverse credit lenders has become a lot smaller over the last 2 years.

With this in mind it is important to review your mortgage as soon as any redemption period is finished, to ensure you are always getting the best deal for your circumstances. If a bad credit mortgage can help you repair your credit score and credit history that's great but there is no point sticking with it longer than necessary.

A bad credit history should be just that, history! Please feel free to use the sub page links under the bad credit heading to look in more detail at other topics relating to bad credit mortgages.

If you wish to speak to a specialist in bad credit mortgages, or require a quote, let us know, we can arrange that for you.

Don't forget, even if you have financial issues we can help put you in touch with a mortgage broker who can arrange a Bad Credit Mortgage, loan or remortgage if that is what you require.