Get a mortgage with bad credit history

There are a panel of lenders and intermediaries who specialise in providing remortgages and mortgages to people with a poor credit rating. There is now far more choice than a few years ago and you should make sure you are getting the most competitive deal available. 

Bad credit mortgage products are offered by a growing number of what are known as sub prime lenders, but  increasingly high street lenders have become more flexible and accommodating of people with previous debt problems.  An adverse credit history is no longer a barrier to getting a mortgage at reasonable rates. Lenders have realised in recent years that if they can help borrowers through a difficult financial period, those people are more likely to stay with them after their credit problems have been sorted out 

Prospective borrowers with a bad credit rating are often people with CCJs, people with previous credit defaults or arrears, discharged bankrupts and people with IVAs or no credit history.

If you have a bad credit history of loan or mortgage arrears, defaults, and/or county court judgements (CCJs) you may find it difficult to secure a mortgage through a mainstream lender. The range of adverse credit mortgage products and interest rates on offer will depend on how bad your financial problems have been and what your credit score / rating is.

Lenders in this market will quite often ignore a limited number of arrears and CCJs settled within a given time interval preceding the current application, such as one or two years. A minority will ignore CCJs and arrears altogether whether settled or not.

Let an expert adviser do all the shopping around for you

It is very important to shop around to get the deal that is right for you. A truly independent adviser is not tied to a single lender or to a restricted panel of mortgage companies. Instead they will scan the entire market to locate the most appropriate and cheapest deals for you.

Simply provide a few details by filling in our no obligation online enquiry form. It costs you nothing to see what your options are.