Adverse Credit Mortgages
Don’t let what happened in the past ruin your future
Having adverse credit does not automatically mean you cannot get a mortgage, and this is one of the most common mortgage myths. Many people experience financial difficulties at some point in their lives, and lenders understand that circumstances can change.
There shouldn’t be any shame in having faced challenges with your credit history and rating. Let’s work to improve your credit rating and secure a mortgage for you. Whilst these mortgages may come with higher interest rates, there are specialist lenders who offer mortgages if you have a poor credit history or rating. Subject to your credit score and rating, we will look to find a lender that suits you. If you've been declined before, or you're unsure where you stand, it's worth having a conversation.
Check out our guide, Adverse Credit: A Customer’s Guide.
Your Home (or property) may be repossessed if you do not keep up repayments on your mortgage or any other debts secured on it.
FAQs
Can you secure a mortgage with adverse credit?
Yes, it is achievable. Whilst these mortgages may come with higher interest rates, there are specialist lenders who offer mortgages to those with poor credit histories or ratings. Subject to your credit score and rating, we will look to find a lender that suits you. If you've been declined before, or you're unsure where you stand, it's worth having a conversation.
What are adverse credit mortgages?
Adverse credit mortgages work in the same way as traditional mortgages. The main difference is that adverse credit mortgages (also known as bad credit or subprime mortgages) are designed for people with a poor credit history or rating. As a result, they tend to carry higher interest rates and require larger deposits to offset the perceived additional risk.
How far back do mortgage lenders examine my credit history?
Most lenders generally review the past six years, since this is the maximum duration that most credit issues remain on your file. Even if you have an active adverse item within this period, the possibility of securing a loan depends on the severity of the issue and when it was recorded.
How can I find out what information credit reference agencies hold about me?
Improve your chances of getting the right mortgage and the best rates by making sure everything’s in shape on your credit report.
We recommend Checkmyfile* as it is the only credit score and report with data from Experian, Equifax and TransUnion.
Get a FREE 7-day trial, then it’s £14.99 a month – cancel online anytime.
* Please note that Crownest Mortgages may receive a small commission if you sign up to Checkmyfile through this link. This does not affect the price you pay or the service you receive.
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Office: 01274 265571
alfie@crownestmortgages.co.uk
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