Some lenders only want to work with people who have impeccable credit histories, flawless employment records, and sufficient deposits when it comes to purchasing or remortgaging a property.
But troubles with one’s finances may impact everyone. A loan default, a judgement from a county court, late payments, or having a previous bankruptcy that was dismissed may all negatively impact a person’s credit.
Sometimes individuals fall into debt through no fault of their own, and when this happens, they want to make things right even if they were the ones who caused the problem. When applying for a mortgage, the last thing anybody wants is for their home to be taken away by the bank.
The good news is that certain mortgage lenders will work with borrowers who have less-than-perfect credit. Adverse credit market lenders, often known as “sub-prime” or “non-conforming,” are likely to demand higher interest rates than conventional mortgage lenders.
As usual, applicants will need a stable source of income, and a deposit of 15% of the property’s worth or more may be required.
Although it is obvious that the lenders want to maintain a certain degree of distinction between their conventional and adverse credit divisions, the terms of the agreements that they are now giving are far less stringent than in years past. If borrowers have a track record of timely payments, the majority of lenders will reduce the interest rate. In addition, after three years, you may be able to refinance into a more traditional loan.
You may worry about finding a mortgage if you’ve got bad credit or are self-employed. But we make the whole process of getting a bad-credit mortgage easy.
Many people approach us with a low credit score, sometimes due to missed payments. This can make you a higher risk for mortgage lenders – but it doesn’t mean you cannot get a mortgage. You just might need some specialist help.
It couldn’t be easier!
We help people in a wide range of circumstances. Whatever type of mortgage in Derby you’re looking for, we will connect you with a trusted mortgage advisor who can help you according to your circumstances.
Get in touch today if you want to connect with a mortgage advisor to discuss the following:
Do you need a mortgage but struggle with your credit history? Having a poor credit history might make it difficult to get a mortgage for your home since most high street lenders only accept applications from borrowers with flawless credit. A poor credit history may result from a variety of problems, such as the following:
When we put you in touch with a broker, you can be sure you’re getting the best. That’s because we only work with leading brokers in the industry.
We can connect you with a huge network of experienced brokers in Derby and across the UK, so you’ll always get advice you can trust.
Want to find a bad-credit mortgage in Derby? Start by contacting us. We’ll match you with a trusted mortgage advisor who can help you find the best mortgage deal for your situation in no time at all.
Why not just search for a mortgage in Derby yourself? For a start, when we introduce you to a qualified mortgage advisor, they will carry out mortgage searches on your behalf. That means it won’t impact your credit score.
When we connect you with experienced mortgage advisors in Derby, you can also be sure you’re getting impartial advice suited to your circumstances.
They do the hard work for you, saving you time and money. Plus, they can access mortgage deals you won’t find on the high street. We have helped thousands of people already, and we know which brokers are best for your circumstances. On top of all that, our service is fast and completely free, so we won’t charge you a penny to connect you with an expert mortgage advisor.
Fast & Free Service – We match you for free to mortgage advisors with the best impartial advice and access to top mortgage deals speedily.
Expert, Tailored Advice – We’ve helped thousands so know which brokers can best help people in circumstances like yours.
Save Time & Money – The advisors we work with are well qualified and know mortgages inside out so can save you both time and money.
Professional Service – Our service is reliable so that we always help you find the advice and mortgage to suit your circumstances.
Director / Mortgage & Protection Advisor
Sales Manager
Mortgage & Protection Advisor
Mortgage & Protection Advisor
We’ve helped thousands of clients secure mortgages, whether it is a Bad Credit Mortgage, Self Employed Mortgage, Remortgage, Buy To Let Mortgage, or Commercial Mortgage.