Overcome a poor credit score

A low or poor credit score can mean mortgage lenders fail to take you seriously and you may have already been declined, rejected or turned down for a mortgage by a high street lender. As many as one in four Britons would be turned down by a mainstream mortgage lender because of having a poor credit score.

Most of the high street banks and building societies use automatic credit scoring to assess prospective borrowers when they apply for a mortgage. If an applicants' score does not meet their minimum lending criteria, the lender can turn them down.

However there is a new generation of lenders and intermediaries who specialise in providing what are known as non-conforming or non standard mortgages to people with a low credit score. There is now much more choice than a few years ago and it's important to make sure you are getting the most competitive deal available. Specialist products are even available from high-street names such as the Chelsea Building Society, the Britannia Building Society and Birmingham Midshires which is part of HBOS.

The range of mortgage products available to people with a poor credit score will depend on how bad you credit history is. For instance people who have missed mortgage repayments in the past are seen as less of a risk compared to customers who have been declared bankrupt.

Taking out a specialist non-conforming mortgage can help to rebuild your credit score, making it easier to get finance in the future.

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.