Specialists in adverse & bad credit mortgages
As banks, building societies and other high street lenders continue to tighten their criteria, it can prove difficult to open doors to lenders who are actually willing to listen. If you currently have bad credit, we understand how disheartening it can be when door after door is closed, and though securing a mortgage with poor or adverse credit is challenging; it’s certainly not impossible.
We’ve developed strong relationships with lenders who specialise in bad credit applications and who understand that life today is just not that simple for some. The days of “computer says no” are starting to fade and the Specialist market, whilst complicated, is growing. Our dependable team will take the time to understand your unique situation and, using our strong relationships within this sector, are well placed to arrange a suitable mortgage product that you’re unlikely to find direct. This sector is often referred to as sub-prime lending or adverse credit mortgages and we are uniquely positioned to keep your dreams of buying a home well and truly alive.
How can you get a mortgage with bad credit?
Bad credit mortgages are on the rise, but it’s important to understand that the products you will be presented with depend on your individual circumstances and the reasons for financial difficulties. There are many different reasons why people seek bad credit mortgages, for example, they may be suffering from:
- No credit history
- Poor credit score
- High volume of credit applications
- Late payments
- Not being listed on the electoral roll
- Missed mortgage payments
Some bad credit mortgages do have higher-than-average rates and you may also need a larger deposit. However, in recent years we have witnessed a surge in very good deals for people suffering from adverse credit, as some lenders look beyond your credit score considering a multitude of factors, such as income, outgoings and financial situation. For example, specialist lenders may view your application more favourably if illness, divorce or bereavement contributed to your financial difficulties.
Here at Charles Derby Mortgage Bureau, we don’t just unlock access to quality mortgage products that can help you realise and fulfill your dreams of buying a home, we can guide you throughout the complete process. Our advisers have over 50 years of combined experience helping prospective homeowners navigate the mortgage maze, we can ensure your many questions are answered plainly and clearly, ensuring you understand every aspect of your prospective investment. We make it our business to build relationships with lenders who base their decision to lend by looking at individual circumstances, whilst our advice and support can also be provided face-to-face as we cover the whole of the UK.
Bad credit mortgage advice for a smoother journey
Buying a home is a huge milestone and Charles Derby Mortgage Bureau can reignite your aspirations, ensuring your ‘bad credit’ label doesn’t prevent you from fulfilling life-long ambitions. In addition to learning more about you, researching products, creating detailed comparisons, submitting applications and negotiating the right deal, we can also complete all of the paperwork on your behalf. Bad credit can increase complications, but if our many years of experience have told us anything, it’s that there’s a bliss balance between excellent knowledge and strong relationships. So, whether you have a CCJ (satisfied or unsatisfied), default(s) or a poor credit score resulting from missed payments, have had or are still in a debt management plan, in an IVA or have had one, a newly discharged bankrupt or have ever been one, we can work closely with you to ensure your journey to purchasing your dream home or refinancing is stress free from start to finish. We also look to credit repair wherever possible which means that after any initial benefit period has elapsed, we will endeavour to move you back to mainstream lending.